BlackRock Inc. Decreases Stock Position in Citigroup Inc. (NYSE:C)

BlackRock Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 0.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 159,955,065 shares of the company’s stock after selling 249,515 shares during the quarter. BlackRock Inc. owned about 7.89% of Citigroup worth $11,316,822,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jackson Hole Capital Partners LLC lifted its position in Citigroup by 0.5% during the first quarter. Jackson Hole Capital Partners LLC now owns 29,439 shares of the company’s stock worth $2,142,000 after buying an additional 134 shares in the last quarter. Smith Asset Management Group LP lifted its position in Citigroup by 15.7% during the first quarter. Smith Asset Management Group LP now owns 1,061 shares of the company’s stock worth $77,000 after buying an additional 144 shares in the last quarter. First National Corp MA ADV lifted its position in Citigroup by 2.8% during the first quarter. First National Corp MA ADV now owns 5,296 shares of the company’s stock worth $385,000 after buying an additional 144 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in Citigroup by 3.9% during the first quarter. Prime Capital Investment Advisors LLC now owns 3,959 shares of the company’s stock worth $288,000 after buying an additional 150 shares in the last quarter. Finally, Cooper Financial Group lifted its position in Citigroup by 2.1% during the first quarter. Cooper Financial Group now owns 7,656 shares of the company’s stock worth $557,000 after buying an additional 154 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

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

C traded down $3.04 on Monday, hitting $66.92. 1,055,478 shares of the company were exchanged, compared to its average volume of 19,503,033. Citigroup Inc. has a twelve month low of $40.49 and a twelve month high of $80.29. The company has a market cap of $135.63 billion, a price-to-earnings ratio of 7.03, a price-to-earnings-growth ratio of 0.87 and a beta of 1.91. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average price of $70.04 and a two-hundred day moving average price of $72.16.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 13th. The company reported $2.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.91. Citigroup had a return on equity of 12.10% and a net margin of 27.21%. The firm had revenue of $17.50 billion during the quarter, compared to analysts’ expectations of $17.18 billion. During the same period in the previous year, the firm posted $0.50 EPS. Citigroup’s revenue for the quarter was down 11.5% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 9.97 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Monday, August 2nd were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $2.04 annualized dividend and a dividend yield of 3.05%. Citigroup’s dividend payout ratio is currently 41.80%.

Citigroup Company Profile

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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