Citigroup Inc. (NYSE:C) Position Decreased by 1832 Asset Management L.P.

1832 Asset Management L.P. reduced its holdings in Citigroup Inc. (NYSE:C) by 90.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,395 shares of the company’s stock after selling 375,227 shares during the quarter. 1832 Asset Management L.P.’s holdings in Citigroup were worth $2,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. TD Asset Management Inc lifted its stake in Citigroup by 21.8% during the fourth quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock valued at $49,776,000 after buying an additional 173,137 shares in the last quarter. Lloyd Advisory Services LLC. lifted its position 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 valued at $1,209,000 after acquiring an additional 14,922 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Citigroup by 13.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after purchasing an additional 8,593 shares during the period. Lazard Asset Management LLC grew its position in Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after purchasing an additional 23,774 shares in the last quarter. Finally, Capital World Investors raised its stake in Citigroup by 9.1% during the 4th quarter. Capital World Investors now owns 4,187,362 shares of the company’s stock valued at $215,398,000 after purchasing an additional 350,087 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on C. Keefe, Bruyette & Woods lifted 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. Oppenheimer upped their target price on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. The Goldman Sachs Group decreased their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler upped their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Evercore ISI lifted their target price on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Stock Down 1.6 %

C opened at $60.39 on Thursday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day moving average price of $60.98 and a 200 day moving average price of $61.58. The firm has a market cap of $115.21 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. Research analysts forecast that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.71%. Citigroup’s payout ratio is presently 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.