Cetera Investment Advisers Reduces Stock Position in Citigroup Inc. (NYSE:C)

Cetera Investment Advisers trimmed its position in shares of Citigroup Inc. (NYSE:C) by 13.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 407,351 shares of the company’s stock after selling 61,801 shares during the period. Cetera Investment Advisers’ holdings in Citigroup were worth $25,851,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after buying an additional 17,525,484 shares during the period. Swedbank AB bought a new stake in Citigroup during the 1st quarter valued at approximately $253,286,000. Acadian Asset Management LLC grew its holdings in shares of Citigroup by 527.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after acquiring an additional 2,100,135 shares during the period. Caxton Associates LP raised its position in shares of Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after acquiring an additional 1,988,494 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Citigroup by 873.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock valued at $135,262,000 after purchasing an additional 1,919,170 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on C shares. BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley boosted their price objective on shares of Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler raised their target price 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. 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, Oppenheimer upped their price target on Citigroup from $87.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Citigroup Stock Up 0.4 %

Shares of NYSE C opened at $62.03 on Thursday. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The firm has a market capitalization of $118.32 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.69 and a beta of 1.45. The stock has a 50 day moving average price of $60.73 and a 200 day moving average price of $61.74. 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 issued its 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 analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 EPS. Sell-side analysts expect that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.61%. 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 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.