APG Asset Management N.V. Sells 304,931 Shares of Citigroup Inc. (NYSE:C)

APG Asset Management N.V. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 55.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 240,950 shares of the company’s stock after selling 304,931 shares during the quarter. APG Asset Management N.V.’s holdings in Citigroup were worth $14,267,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in C. POM Investment Strategies LLC bought a new stake in shares of Citigroup in the 2nd quarter worth approximately $25,000. Beacon Capital Management LLC raised its stake in shares of Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Citigroup during the 2nd quarter valued at $32,000. Capital Advisors Ltd. LLC grew its stake in shares of Citigroup by 93.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after acquiring an additional 276 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its holdings in Citigroup by 48.6% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 581 shares of the company’s stock worth $37,000 after acquiring an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.3 %

C stock opened at $61.87 on Friday. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The company has a market capitalization of $118.04 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The company’s 50 day moving average price is $60.85 and its two-hundred day moving average price is $61.64. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

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 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%. 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 firm posted $1.37 earnings per share. As a group, analysts predict that Citigroup Inc. will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is 62.75%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Argus raised their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. The Goldman Sachs Group decreased their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Piper Sandler upped their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada lifted their price objective on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average price target of $68.25.

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.