DoubleLine ETF Adviser LP Sells 1,436 Shares of Citigroup Inc. (NYSE:C)

DoubleLine ETF Adviser LP decreased its position in shares of Citigroup Inc. (NYSE:C) by 4.3% in the second quarter, Holdings Channel reports. The fund owned 31,845 shares of the company’s stock after selling 1,436 shares during the period. DoubleLine ETF Adviser LP’s holdings in Citigroup were worth $2,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of C. Elgethun Capital Management boosted its stake in Citigroup by 8.3% during the 2nd quarter. Elgethun Capital Management now owns 73,467 shares of the company’s stock valued at $4,662,000 after purchasing an additional 5,600 shares during the period. Alden Global Capital LLC boosted its position in shares of Citigroup by 9.8% in the second quarter. Alden Global Capital LLC now owns 184,542 shares of the company’s stock valued at $11,711,000 after acquiring an additional 16,523 shares during the period. Caxton Associates LP grew its stake in shares of Citigroup by 96.1% in the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after acquiring an additional 1,937,038 shares during the last quarter. ELCO Management Co. LLC bought a new position in Citigroup during the second quarter worth $244,000. Finally, Point72 Europe London LLP raised its stake in Citigroup by 24.6% during the 2nd quarter. Point72 Europe London LLP now owns 94,800 shares of the company’s stock valued at $6,016,000 after purchasing an additional 18,700 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of NYSE:C opened at $60.39 on Thursday. The stock has a market capitalization of $115.21 billion, a P/E ratio of 16.92, a P/E/G 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 Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The business has a 50-day moving average price of $60.98 and a two-hundred day moving average price of $61.58.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping 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 business had revenue of $20.14 billion during 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. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.71%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer boosted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Morgan Stanley raised their price objective 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 decreased their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. 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 research report on Monday, June 17th. Finally, Keefe, Bruyette & Woods lifted their price objective 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 issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

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.