V Square Quantitative Management LLC Reduces Position in Citigroup Inc. (NYSE:C)

V Square Quantitative Management LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 44.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,240 shares of the company’s stock after selling 9,139 shares during the period. V Square Quantitative Management LLC’s holdings in Citigroup were worth $713,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Norges Bank bought a new position in shares of Citigroup in the fourth quarter worth about $867,599,000. Bank of New York Mellon Corp lifted its position in shares of Citigroup by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after buying an additional 4,620,867 shares in the last quarter. Swedbank AB bought a new position in shares of Citigroup during the 1st quarter valued at approximately $253,286,000. Finally, Caxton Associates LP increased its holdings in Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after acquiring an additional 1,988,494 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

C traded up $0.81 during trading hours on Wednesday, hitting $58.96. The company’s stock had a trading volume of 4,843,131 shares, compared to its average volume of 14,963,441. The business’s 50-day moving average price is $62.34 and its 200-day moving average price is $60.48. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The stock has a market cap of $112.46 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 0.68 and a beta of 1.46. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company 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 dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.80%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on C. Evercore ISI upped their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Argus increased their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Piper Sandler boosted their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods lifted their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Finally, Royal Bank of Canada increased their price objective on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup 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.