Citigroup Inc. (NYSE:C) Position Reduced by Bank of The West

Bank of The West trimmed its position in Citigroup Inc. (NYSE:C) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,672 shares of the company’s stock after selling 521 shares during the quarter. Bank of The West’s holdings in Citigroup were worth $2,878,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Banco Santander S.A. raised its position in Citigroup by 41.4% during the first quarter. Banco Santander S.A. now owns 541,707 shares of the company’s stock valued at $39,409,000 after buying an additional 158,513 shares during the period. Deseret Mutual Benefit Administrators purchased a new position in Citigroup during the 2nd quarter valued at about $2,569,000. Banque Pictet & Cie SA grew its stake in Citigroup by 49.1% during the 1st quarter. Banque Pictet & Cie SA now owns 267,408 shares of the company’s stock valued at $19,454,000 after acquiring an additional 88,058 shares in the last quarter. AGF Investments Inc. lifted its position in shares of Citigroup by 11.1% in the second quarter. AGF Investments Inc. now owns 43,526 shares of the company’s stock worth $3,079,000 after purchasing an additional 4,358 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Citigroup by 10.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 149,512 shares of the company’s stock worth $10,578,000 after purchasing an additional 13,687 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on C shares. Piper Sandler cut their target price on shares of Citigroup from $95.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, July 15th. Morgan Stanley increased their price objective on Citigroup from $89.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Credit Suisse Group reduced their price objective on Citigroup from $83.00 to $82.00 and set an “outperform” rating for the company in a research report on Monday, July 19th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $73.00 target price on shares of Citigroup in a research report on Wednesday, July 7th. Finally, Keefe, Bruyette & Woods initiated coverage on Citigroup in a report on Wednesday, July 7th. They set an “outperform” rating and a $85.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $79.97.

Shares of C opened at $67.30 on Tuesday. The company has a market capitalization of $136.40 billion, a PE ratio of 6.76, a price-to-earnings-growth ratio of 0.87 and a beta of 1.91. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a one year low of $40.49 and a one year high of $80.29. The company’s fifty day moving average price is $70.00 and its 200 day moving average price is $72.14.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 13th. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.91. Citigroup had a return on equity of 12.10% and a net margin of 27.21%. The business had revenue of $17.50 billion for the quarter, compared to analyst estimates of $17.18 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. Analysts anticipate that Citigroup Inc. will post 9.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Monday, August 2nd were issued a dividend of $0.51 per share. The ex-dividend date was Friday, July 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.03%. Citigroup’s dividend payout ratio (DPR) is presently 41.80%.

About Citigroup

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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