Altrius Capital Management Inc Decreases Holdings in Citigroup Inc. (NYSE:C)

Altrius Capital Management Inc lowered its stake in shares of Citigroup Inc. (NYSE:C) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,211 shares of the company’s stock after selling 982 shares during the period. Citigroup comprises 1.4% of Altrius Capital Management Inc’s investment portfolio, making the stock its 26th biggest position. Altrius Capital Management Inc’s holdings in Citigroup were worth $5,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of C. Price T Rowe Associates Inc. MD raised its stake 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 purchasing an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Citigroup by 18.4% during the first quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after buying an additional 4,620,867 shares in the last quarter. Swedbank AB acquired a new stake in shares of Citigroup in the first quarter valued at about $253,286,000. Acadian Asset Management LLC lifted its stake in shares of Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares in the last quarter. Finally, Caxton Associates LP boosted its position in Citigroup by 7,393.3% during the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after acquiring an additional 1,988,494 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on C shares. Evercore ISI raised their target price 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. Oppenheimer lifted their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley upped their target price on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Piper Sandler lifted their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Argus upped their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Stock Performance

NYSE:C opened at $59.89 on Thursday. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50 day moving average price of $61.40 and a 200 day moving average price of $61.41. The stock has a market capitalization of $114.24 billion, a P/E ratio of 16.78, a PEG ratio of 0.62 and a beta of 1.45.

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

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

About Citigroup

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.