Twin Capital Management Inc. cut its position in shares of Citigroup Inc (NYSE:C) by 32.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,933 shares of the financial services provider’s stock after selling 118,317 shares during the quarter. Citigroup comprises about 1.2% of Twin Capital Management Inc.’s holdings, making the stock its 12th largest position. Twin Capital Management Inc.’s holdings in Citigroup were worth $17,573,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA acquired a new stake in Citigroup in the first quarter worth $27,000. Personal Wealth Partners acquired a new stake in Citigroup in the second quarter worth $27,000. Harvest Group Wealth Management LLC acquired a new stake in Citigroup in the first quarter worth $28,000. Centaurus Financial Inc. grew its holdings in Citigroup by 95.1% in the first quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 835 shares during the period. Finally, Mcmillion Capital Management Inc. acquired a new stake in Citigroup in the second quarter worth $31,000. Institutional investors own 77.65% of the company’s stock.
Shares of Citigroup stock traded up $0.09 during trading hours on Thursday, reaching $61.50. The company’s stock had a trading volume of 826,373 shares, compared to its average volume of 13,639,416. Citigroup Inc has a one year low of $48.42 and a one year high of $75.24. The stock has a market cap of $145.12 billion, a P/E ratio of 9.25, a P/E/G ratio of 0.70 and a beta of 1.76. The business has a fifty day simple moving average of $69.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 2nd. Citigroup’s dividend payout ratio (DPR) is 30.68%.
A number of equities research analysts have commented on C shares. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Berenberg Bank set a $78.00 price target on shares of Citigroup and gave the stock a “buy” rating in a report on Monday, June 17th. BMO Capital Markets cut shares of Citigroup to a “hold” rating in a report on Friday, July 26th. Goldman Sachs Group upgraded shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price target for the company in a report on Thursday, May 30th. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $74.00 to $86.00 in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $79.40.
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).
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