DekaBank Deutsche Girozentrale Sells 814,115 Shares of Citigroup Inc. (NYSE:C)

DekaBank Deutsche Girozentrale cut its holdings in Citigroup Inc. (NYSE:C) by 56.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 640,341 shares of the company’s stock after selling 814,115 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Citigroup were worth $39,354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of C. Kentucky Retirement Systems increased its stake in Citigroup by 2.6% in the 4th quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock worth $7,877,000 after buying an additional 3,808 shares in the last quarter. TD Asset Management Inc lifted its holdings 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 buying an additional 173,137 shares in the last quarter. Lloyd Advisory Services LLC. boosted its position in shares of Citigroup by 355.9% during the first quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock worth $1,209,000 after acquiring an additional 14,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after acquiring an additional 8,593 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Citigroup by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after acquiring an additional 23,774 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Evercore ISI upped their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Morgan Stanley increased their target price on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Price Performance

C stock opened at $57.67 on Friday. 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 12 month low of $38.17 and a 12 month high of $67.81. The stock has a market cap of $110.02 billion, a PE ratio of 16.15, a P/E/G ratio of 0.62 and a beta of 1.45. The company has a 50-day moving average price of $61.81 and a 200 day moving average price of $61.33.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post 5.81 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 paid a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.88%. Citigroup’s dividend payout ratio (DPR) 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.