Granite Investment Partners LLC Sells 3,198 Shares of Citigroup Inc. (NYSE:C)

Granite Investment Partners LLC lowered its position in shares of Citigroup Inc. (NYSE:C) by 10.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,837 shares of the company’s stock after selling 3,198 shares during the quarter. Granite Investment Partners LLC’s holdings in Citigroup were worth $1,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Citigroup by 123.5% during 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 buying an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 worth $1,904,262,000 after purchasing an additional 250,716 shares in the last quarter. Fisher Asset Management LLC raised 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 valued at $1,273,411,000 after purchasing an additional 1,836,283 shares during the period. Putnam Investments LLC lifted its stake in shares of Citigroup by 7.9% during the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after buying an additional 1,300,520 shares in the last quarter. Finally, Greenhaven Associates Inc. boosted its holdings in Citigroup by 2.1% in the 2nd quarter. Greenhaven Associates Inc. now owns 16,640,846 shares of the company’s stock worth $1,056,028,000 after buying an additional 349,086 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

C has been the topic of several recent research reports. Argus increased their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods lifted their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Piper Sandler raised their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Evercore ISI upped their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada boosted their price target on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

Citigroup Trading Down 1.4 %

Shares of C opened at $62.11 on Friday. The firm has a fifty day simple moving average of $61.30 and a two-hundred day simple moving average of $61.46. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The stock has a market capitalization of $118.47 billion, a P/E ratio of 17.40, a PEG ratio of 0.62 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

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

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.61%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

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.