Employees Retirement System of Texas decreased its holdings in shares of Citigroup Inc. (NYSE:C – Free Report) by 18.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 270,380 shares of the company’s stock after selling 61,610 shares during the period. Employees Retirement System of Texas’ holdings in Citigroup were worth $12,448,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in C. Toroso Investments LLC lifted its stake in shares of Citigroup by 22.5% in the first quarter. Toroso Investments LLC now owns 49,560 shares of the company’s stock worth $2,324,000 after buying an additional 9,117 shares in the last quarter. Inscription Capital LLC purchased a new stake in Citigroup during the 1st quarter valued at $284,000. Leo Brokerage LLC bought a new stake in shares of Citigroup in the 1st quarter worth $532,000. Berkeley Capital Partners LLC raised its stake in shares of Citigroup by 4.4% in the first quarter. Berkeley Capital Partners LLC now owns 20,333 shares of the company’s stock worth $953,000 after purchasing an additional 858 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Citigroup by 128.3% during the second quarter. Exchange Traded Concepts LLC now owns 306,668 shares of the company’s stock valued at $14,119,000 after purchasing an additional 172,364 shares in the last quarter. 69.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on C. BMO Capital Markets boosted their target price on Citigroup from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, October 16th. TheStreet cut shares of Citigroup from a “b-” rating to a “c+” rating in a report on Wednesday, August 30th. Piper Sandler dropped their target price on shares of Citigroup from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, October 16th. Morgan Stanley lowered their price target on Citigroup from $45.00 to $43.00 and set an “underweight” rating on the stock in a report on Tuesday, October 3rd. Finally, Wells Fargo & Company cut their price objective on Citigroup from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Citigroup presently has an average rating of “Hold” and a consensus target price of $51.28.
Insider Activity at Citigroup
In other Citigroup news, insider Andrew John Morton sold 28,096 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $40.66, for a total transaction of $1,142,383.36. Following the completion of the transaction, the insider now owns 410,060 shares in the company, valued at $16,673,039.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.
Citigroup Price Performance
Citigroup stock traded up $0.01 during mid-day trading on Tuesday, hitting $45.27. The stock had a trading volume of 3,288,709 shares, compared to its average volume of 17,524,346. The firm’s 50 day moving average is $41.32 and its 200 day moving average is $43.94. Citigroup Inc. has a one year low of $38.17 and a one year high of $53.23. The firm has a market capitalization of $86.64 billion, a P/E ratio of 7.17, a P/E/G ratio of 2.46 and a beta of 1.55. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45.
Citigroup (NYSE:C – Get Free Report) last issued its earnings results on Friday, October 13th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.29. The company had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $19.27 billion. Citigroup had a return on equity of 6.76% and a net margin of 9.22%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $1.50 EPS. On average, sell-side analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.
Citigroup Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 6th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.68%. Citigroup’s dividend payout ratio is currently 33.60%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.
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