Palouse Capital Management Inc. Sells 1,936 Shares of Citigroup Inc. (NYSE:C)

Palouse Capital Management Inc. trimmed its position in shares of Citigroup Inc. (NYSE:C) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,887 shares of the company’s stock after selling 1,936 shares during the period. Citigroup accounts for approximately 2.6% of Palouse Capital Management Inc.’s holdings, making the stock its 9th biggest position. Palouse Capital Management Inc.’s holdings in Citigroup were worth $3,800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Citigroup by 123.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Citigroup by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after acquiring an additional 4,620,867 shares in the last quarter. Swedbank AB bought a new position in shares of Citigroup in the first quarter valued at approximately $253,286,000. Acadian Asset Management LLC raised its holdings in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after purchasing an additional 2,100,135 shares in the last quarter. Finally, Caxton Associates LP lifted its position in Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after purchasing an additional 1,988,494 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Piper Sandler raised their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada boosted their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Argus raised their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods upped their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $68.25.

Citigroup Trading Up 1.0 %

Shares of NYSE C opened at $59.89 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The business has a 50-day moving average price of $61.40 and a two-hundred day moving average price of $61.41. The firm has a market capitalization of $114.24 billion, a PE ratio of 16.78, a PEG ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.74%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.