Covestor Ltd Decreases Holdings in Citigroup Inc. (NYSE:C)

Covestor Ltd lessened its position in shares of Citigroup Inc. (NYSE:C) by 28.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,056 shares of the company’s stock after selling 1,228 shares during the quarter. Covestor Ltd’s holdings in Citigroup were worth $194,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. 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. Fisher Asset Management LLC boosted its position in shares of Citigroup by 8.0% in the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after purchasing an additional 1,836,283 shares during the period. Putnam Investments LLC increased its stake in shares of Citigroup by 7.9% in the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after purchasing an additional 1,300,520 shares in the last quarter. Norges Bank bought a new position in Citigroup in the 4th quarter worth $867,599,000. Finally, Pzena Investment Management LLC raised its holdings in Citigroup by 1.3% during the fourth quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock valued at $866,797,000 after acquiring an additional 223,206 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on C. Jefferies Financial Group lifted their target price on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Argus increased their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, BMO Capital Markets boosted their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.25.

Citigroup Trading Up 0.3 %

C stock traded up $0.19 during mid-day trading on Tuesday, hitting $64.69. 3,150,776 shares of the company were exchanged, compared to its average volume of 14,934,225. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The business has a fifty day simple moving average of $63.02 and a 200-day simple moving average of $59.56. The firm has a market capitalization of $123.39 billion, a P/E ratio of 18.09, a PEG ratio of 0.71 and a beta of 1.46. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. On average, equities research analysts predict that Citigroup Inc. will post 5.82 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.46%. Citigroup’s payout ratio is currently 59.38%.

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.