Citigroup Inc. (NYSE:C) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in Citigroup Inc. (NYSE:C) by 35.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 697,447 shares of the company’s stock after selling 387,186 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Citigroup were worth $44,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of C. MONECO Advisors LLC raised its stake in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after buying an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after buying an additional 164 shares in the last quarter. NorthRock Partners LLC raised its stake in Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after buying an additional 169 shares in the last quarter. Finally, Gries Financial LLC raised its stake in Citigroup by 3.0% in the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock valued at $381,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C opened at $57.28 on Thursday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The stock’s 50 day moving average is $62.08 and its two-hundred day moving average is $61.30. The firm has a market capitalization of $109.26 billion, a PE ratio of 16.04, a P/E/G ratio of 0.64 and a beta of 1.45. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts anticipate that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.91%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on C shares. The Goldman Sachs Group cut their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods raised their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. BMO Capital Markets raised their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Argus raised their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada raised their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.25.

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.