Citigroup Inc. (NYSE:C) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lessened its position in Citigroup Inc. (NYSE:C) by 80.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,393 shares of the company’s stock after selling 17,689 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Citigroup were worth $279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MONECO Advisors LLC boosted its stake in Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after buying an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares during the period. NorthRock Partners LLC increased its position in Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. increased its position in Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the last quarter. Finally, Gries Financial LLC raised its stake in Citigroup by 3.0% during the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.3 %

Shares of Citigroup stock opened at $61.87 on Monday. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The company has a market capitalization of $118.01 billion, a PE ratio of 17.33, a P/E/G ratio of 0.69 and a beta of 1.45. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average of $60.85 and a 200-day moving average of $61.67.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (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 company had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the previous year, the business earned $1.37 EPS. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed 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 is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.62%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Analysts Set New Price Targets

A number of analysts have recently commented on C shares. Keefe, Bruyette & Woods upped their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Piper Sandler boosted their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. The Goldman Sachs Group cut 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. Argus boosted their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Oppenheimer raised their price target on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Company 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.