Citigroup Inc. $C Position Increased by Granite Investment Partners LLC

Granite Investment Partners LLC increased its stake in Citigroup Inc. (NYSE:C) by 19.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,186 shares of the company’s stock after acquiring an additional 6,018 shares during the quarter. Granite Investment Partners LLC’s holdings in Citigroup were worth $3,165,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of C. Vanguard Group Inc. increased its position in shares of Citigroup by 0.7% in the second quarter. Vanguard Group Inc. now owns 165,851,890 shares of the company’s stock worth $14,117,313,000 after acquiring an additional 1,148,451 shares in the last quarter. Geode Capital Management LLC boosted its stake in Citigroup by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 42,957,190 shares of the company’s stock worth $3,645,084,000 after purchasing an additional 411,894 shares during the period. Price T Rowe Associates Inc. MD grew its position in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock worth $2,917,794,000 after purchasing an additional 2,539,769 shares in the last quarter. Franklin Resources Inc. raised its stake in Citigroup by 2.2% during the 2nd quarter. Franklin Resources Inc. now owns 32,290,532 shares of the company’s stock valued at $2,748,571,000 after purchasing an additional 679,967 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 3.2% in the second quarter. Fisher Asset Management LLC now owns 32,161,457 shares of the company’s stock valued at $2,737,583,000 after purchasing an additional 988,152 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $103.18 on Wednesday. The firm has a market cap of $184.61 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.51 and a beta of 1.21. The company’s fifty day moving average is $99.78 and its 200-day moving average is $92.54. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.35. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm had revenue of $22.09 billion during the quarter, compared to analysts’ expectations of $20.92 billion. During the same period in the prior year, the company posted $1.51 earnings per share. Citigroup’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. Citigroup’s dividend payout ratio is currently 33.71%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on C. Oppenheimer lowered their price target on Citigroup from $123.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Wells Fargo & Company raised their price objective on Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. TD Cowen upped their target price on Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. UBS Group restated a “neutral” rating and set a $108.00 price target on shares of Citigroup in a report on Monday, November 24th. Finally, Bank of America boosted their price objective on shares of Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.70.

Citigroup Company 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.