Hartford Investment Management Co. lowered its position in Citigroup Inc (NYSE:C) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,359 shares of the financial services provider’s stock after selling 2,063 shares during the quarter. Hartford Investment Management Co.’s holdings in Citigroup were worth $23,275,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Citigroup by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 30,039,886 shares of the financial services provider’s stock worth $1,561,201,000 after acquiring an additional 1,187,619 shares in the last quarter. Norges Bank bought a new stake in shares of Citigroup during the 4th quarter worth about $1,383,526,000. Dimensional Fund Advisors LP boosted its stake in shares of Citigroup by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,392,544 shares of the financial services provider’s stock worth $905,481,000 after acquiring an additional 239,599 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Citigroup by 1.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 11,033,376 shares of the financial services provider’s stock worth $686,497,000 after acquiring an additional 124,374 shares in the last quarter. Finally, Sanders Capital LLC boosted its stake in shares of Citigroup by 2.5% during the 2nd quarter. Sanders Capital LLC now owns 10,354,948 shares of the financial services provider’s stock worth $818,349,000 after acquiring an additional 251,300 shares in the last quarter. Hedge funds and other institutional investors own 76.02% of the company’s stock.
C has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $74.00 to $86.00 in a research report on Friday, July 26th. Berenberg Bank set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a research report on Monday, June 17th. Morgan Stanley boosted their price objective on Citigroup from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. UBS Group boosted their price objective on Citigroup from $78.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets cut Citigroup to a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Citigroup has a consensus rating of “Buy” and a consensus target price of $79.57.
Citigroup (NYSE:C) last released its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.17. The company had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. On average, research analysts expect that Citigroup Inc will post 7.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 2nd. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 dividend on an annualized basis and a yield of 3.13%. Citigroup’s dividend payout ratio is 27.07%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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