Sandy Spring Bank Boosts Stock Holdings in Citigroup Inc (NYSE:C)

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Sandy Spring Bank raised its holdings in shares of Citigroup Inc (NYSE:C) by 8.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 31,317 shares of the financial services provider’s stock after purchasing an additional 2,348 shares during the period. Sandy Spring Bank’s holdings in Citigroup were worth $2,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Artisan Partners Limited Partnership increased its position in Citigroup by 1.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 11,033,376 shares of the financial services provider’s stock valued at $686,497,000 after purchasing an additional 124,374 shares during the period. Sanders Capital LLC increased its position in Citigroup by 2.5% during the 2nd quarter. Sanders Capital LLC now owns 10,354,948 shares of the financial services provider’s stock valued at $818,349,000 after purchasing an additional 251,300 shares during the period. Parametric Portfolio Associates LLC increased its position in Citigroup by 7.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 8,150,246 shares of the financial services provider’s stock valued at $507,108,000 after purchasing an additional 559,038 shares during the period. Janus Henderson Group PLC increased its position in Citigroup by 6.1% during the 1st quarter. Janus Henderson Group PLC now owns 4,450,450 shares of the financial services provider’s stock valued at $276,925,000 after purchasing an additional 254,562 shares during the period. Finally, AJO LP increased its position in Citigroup by 23.5% during the 1st quarter. AJO LP now owns 4,144,296 shares of the financial services provider’s stock valued at $257,858,000 after purchasing an additional 789,759 shares during the period. 77.65% of the stock is currently owned by institutional investors and hedge funds.

C stock traded up $0.06 during trading on Thursday, reaching $61.47. The company had a trading volume of 6,233,423 shares, compared to its average volume of 13,639,416. The business has a 50-day simple moving average of $69.66. The firm has a market cap of $145.12 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 0.70 and a beta of 1.76. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup Inc has a twelve month low of $48.42 and a twelve month high of $75.24.

Citigroup (NYSE:C) last released its earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.17. The company had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. Citigroup’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. As a group, analysts expect that Citigroup Inc will post 7.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 2nd. This is a boost from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 dividend on an annualized basis and a yield of 3.32%. Citigroup’s dividend payout ratio (DPR) is 30.68%.

A number of research analysts have recently issued reports on the stock. Wells Fargo & Co set a $90.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research report on Friday, May 3rd. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $74.00 to $86.00 in a research report on Friday, July 26th. Finally, Barclays lifted their price objective on shares of Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $79.40.

Citigroup Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

See Also: What does a hold rating mean?

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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