Citigroup Inc. (NYSE:C) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. trimmed its stake in Citigroup Inc. (NYSE:C) by 88.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 510 shares of the company’s stock after selling 3,738 shares during the quarter. Meeder Asset Management Inc.’s holdings in Citigroup were worth $32,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in C. Price T Rowe Associates Inc. MD raised its holdings in Citigroup by 123.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after acquiring an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Citigroup by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after purchasing an additional 250,716 shares during the period. Fisher Asset Management LLC increased its stake in Citigroup by 8.0% in the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after purchasing an additional 1,836,283 shares during the last quarter. Putnam Investments LLC lifted its position in Citigroup by 7.9% during the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after buying an additional 1,300,520 shares during the period. Finally, Norges Bank acquired a new stake in Citigroup in the 4th quarter worth about $867,599,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.6 %

C stock opened at $57.67 on Monday. The firm has a market cap of $110.00 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The firm has a fifty day moving average price of $61.81 and a two-hundred day moving average price of $61.38. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts predict that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.56 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Analysts Set New Price Targets

Several equities analysts recently commented on C shares. The Goldman Sachs Group dropped their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Evercore ISI increased their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Morgan Stanley lifted their price objective on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler boosted their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.25.

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.