Public Employees Retirement Association of Colorado Cuts Stock Holdings in Citigroup Inc. (NYSE:C)

Public Employees Retirement Association of Colorado lowered its position in Citigroup Inc. (NYSE:C) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,407 shares of the company’s stock after selling 5,040 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Citigroup were worth $16,779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc boosted its position in Citigroup by 21.8% in the fourth quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock worth $49,776,000 after purchasing an additional 173,137 shares during the last quarter. Lloyd Advisory Services LLC. boosted its holdings in shares of Citigroup by 355.9% in the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock worth $1,209,000 after buying an additional 14,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after buying an additional 8,593 shares during the period. Lazard Asset Management LLC increased its holdings in Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after buying an additional 23,774 shares during the last quarter. Finally, Capital World Investors raised its position in Citigroup by 9.1% in the fourth quarter. Capital World Investors now owns 4,187,362 shares of the company’s stock worth $215,398,000 after acquiring an additional 350,087 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on C shares. Royal Bank of Canada increased their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Piper Sandler increased their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Morgan Stanley boosted their target price on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. BMO Capital Markets upped their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Finally, Evercore ISI lifted their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Stock Down 1.4 %

C stock opened at $62.11 on Friday. The stock has a 50-day simple moving average of $61.30 and a two-hundred day simple moving average of $61.46. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market capitalization of $118.47 billion, a PE ratio of 17.40, a PEG ratio of 0.62 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

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

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.61%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is presently 62.75%.

Citigroup Profile

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.