Deprince Race & Zollo Inc. Reduces Holdings in Citigroup Inc. (NYSE:C)

Deprince Race & Zollo Inc. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 723,953 shares of the company’s stock after selling 9,130 shares during the quarter. Citigroup comprises approximately 1.0% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 26th largest holding. Deprince Race & Zollo Inc.’s holdings in Citigroup were worth $45,942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gryphon Financial Partners LLC raised its stake in shares of Citigroup by 215.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock worth $800,000 after purchasing an additional 10,632 shares during the last quarter. Parallel Advisors LLC lifted its stake in Citigroup by 55.3% during the 4th quarter. Parallel Advisors LLC now owns 12,524 shares of the company’s stock valued at $644,000 after acquiring an additional 4,459 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Citigroup by 3.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 64,836 shares of the company’s stock valued at $3,335,000 after acquiring an additional 2,180 shares during the last quarter. TD Asset Management Inc increased its stake in shares of 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 acquiring an additional 173,137 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Citigroup by 0.6% during the fourth quarter. Stifel Financial Corp now owns 949,259 shares of the company’s stock worth $48,830,000 after purchasing an additional 5,427 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on C. Morgan Stanley increased their price target on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group dropped their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. BMO Capital Markets upped their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Finally, Royal Bank of Canada increased their price target on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. One 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. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Price Performance

NYSE:C opened at $60.39 on Thursday. The stock has a 50 day moving average of $60.98 and a two-hundred day moving average of $61.58. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. 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. 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 (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 earnings per share. On average, analysts expect that Citigroup Inc. will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

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