Citigroup Inc. (NYSE:C) Shares Sold by Connective Portfolio Management LLC

Connective Portfolio Management LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 70.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,800 shares of the company’s stock after selling 9,200 shares during the period. Connective Portfolio Management LLC’s holdings in Citigroup were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the period. Swedbank AB acquired a new stake in shares of Citigroup during the 1st quarter worth approximately $253,286,000. Acadian Asset Management LLC grew its stake in Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares during the period. Caxton Associates LP grew its stake in Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after acquiring an additional 1,988,494 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in 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 acquiring an additional 1,919,170 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on C. BMO Capital Markets lifted their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. The Goldman Sachs Group dropped their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler lifted their price target 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. Oppenheimer lifted their price target on shares of Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI raised their price objective on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

Citigroup Trading Up 0.6 %

Shares of NYSE C traded up $0.41 during trading on Wednesday, hitting $63.65. 843,835 shares of the company were exchanged, compared to its average volume of 14,305,926. Citigroup Inc. has a 12-month low of $38.17 and a 12-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 company has a fifty day moving average price of $60.53 and a 200-day moving average price of $61.83. The firm has a market capitalization of $121.41 billion, a PE ratio of 17.71, a P/E/G ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last posted 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. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.52%. The ex-dividend date was Monday, August 5th. Citigroup’s 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.