Hammer Asset Management LLC trimmed its holdings in Citigroup Inc (NYSE:C) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 47,185 shares of the financial services provider’s stock after selling 738 shares during the quarter. Citigroup comprises about 2.7% of Hammer Asset Management LLC’s holdings, making the stock its 8th largest position. Hammer Asset Management LLC’s holdings in Citigroup were worth $3,304,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in C. LFA Lugano Financial Advisors SA acquired a new position in Citigroup during the 1st quarter worth approximately $27,000. Personal Wealth Partners acquired a new position in Citigroup during the 2nd quarter worth approximately $27,000. Harvest Group Wealth Management LLC acquired a new position in Citigroup during the 1st quarter worth approximately $28,000. Centaurus Financial Inc. raised its stake in Citigroup by 95.1% during the 1st quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock worth $28,000 after buying an additional 835 shares during the period. Finally, Mcmillion Capital Management Inc. bought a new stake in Citigroup during the 2nd quarter worth approximately $31,000. 76.78% of the stock is currently owned by institutional investors.
A number of brokerages have commented on C. Berenberg Bank set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a report on Monday, June 17th. Morgan Stanley set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a report on Friday, August 9th. 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 report on Friday, July 26th. Bank of America lowered Citigroup to a “hold” rating in a report on Friday, July 26th. Finally, ValuEngine lowered Citigroup from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One 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. Citigroup presently has a consensus rating of “Buy” and a consensus price target of $79.12.
Shares of NYSE:C traded up $0.77 during trading on Thursday, hitting $64.02. 410,438 shares of the company were exchanged, compared to its average volume of 15,302,586. The company has a market cap of $145.28 billion, a PE ratio of 9.63, a P/E/G ratio of 0.70 and a beta of 1.76. The stock has a 50 day moving average of $68.80 and a 200 day moving average of $66.41. Citigroup Inc has a 52-week low of $48.42 and a 52-week high of $75.24. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.01 and a quick ratio of 1.01.
Citigroup (NYSE:C) last posted its earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.17. The firm had revenue of $18.76 billion for the quarter, compared to the consensus estimate of $18.49 billion. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 earnings per share. Sell-side analysts forecast that Citigroup Inc will post 7.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders 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 represents a $2.04 annualized dividend and a dividend yield of 3.19%. This is an increase from Citigroup’s previous quarterly dividend of $0.45. Citigroup’s dividend payout ratio is currently 30.68%.
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).
Further Reading: Return on Equity (ROE)
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