World Asset Management Inc reduced its stake in Citigroup Inc. (NYSE:C) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,529 shares of the company’s stock after selling 4,423 shares during the quarter. Citigroup accounts for 0.6% of World Asset Management Inc’s investment portfolio, making the stock its 29th biggest holding. World Asset Management Inc’s holdings in Citigroup were worth $6,263,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also bought and sold shares of C. Atlas Capital Advisors LLC purchased a new stake in shares of Citigroup in the first quarter valued at approximately $36,000. Logan Capital Management Inc. acquired a new position in Citigroup during the first quarter worth $37,000. Lee Financial Co raised its holdings in Citigroup by 44.1% during the second quarter. Lee Financial Co now owns 526 shares of the company’s stock worth $37,000 after purchasing an additional 161 shares during the last quarter. Elmwood Wealth Management Inc. acquired a new position in Citigroup during the first quarter worth $46,000. Finally, USA Financial Portformulas Corp raised its holdings in Citigroup by 3,877.8% during the second quarter. USA Financial Portformulas Corp now owns 716 shares of the company’s stock worth $51,000 after purchasing an additional 698 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.
Several equities analysts recently issued reports on C shares. Wells Fargo & Company lifted their price objective on Citigroup from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 8th. Credit Suisse Group cut their price target on Citigroup from $83.00 to $82.00 and set an “outperform” rating for the company in a report on Monday, July 19th. Keefe, Bruyette & Woods assumed coverage on Citigroup in a report on Wednesday, July 7th. They issued an “outperform” rating and a $85.00 price target for the company. Piper Sandler lowered their price objective on Citigroup from $95.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, July 15th. Finally, Morgan Stanley lifted their price objective on Citigroup from $89.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Citigroup presently has a consensus rating of “Buy” and a consensus price target of $79.97.
Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, July 13th. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.91. The business had revenue of $17.50 billion for the quarter, compared to analysts’ expectations of $17.18 billion. Citigroup had a return on equity of 12.10% and a net margin of 27.21%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. As a group, equities research analysts expect that Citigroup Inc. will post 9.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Monday, August 2nd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, July 30th. Citigroup’s dividend payout ratio (DPR) is 41.80%.
Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.
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