Sompo Asset Management Co. Ltd. Has $5.98 Million Holdings in Citigroup Inc. (NYSE:C)

Sompo Asset Management Co. Ltd. reduced its holdings in Citigroup Inc. (NYSE:C) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,150 shares of the company’s stock after selling 2,770 shares during the quarter. Citigroup accounts for about 1.0% of Sompo Asset Management Co. Ltd.’s investment portfolio, making the stock its 23rd largest holding. Sompo Asset Management Co. Ltd.’s holdings in Citigroup were worth $5,975,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after acquiring an additional 250,716 shares in the last quarter. Fisher Asset Management LLC lifted 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 worth $1,273,411,000 after purchasing an additional 1,836,283 shares in the last quarter. Putnam Investments LLC boosted its holdings 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 purchasing an additional 1,300,520 shares during the last quarter. Finally, Greenhaven Associates Inc. grew its position in Citigroup by 2.1% in the second quarter. Greenhaven Associates Inc. now owns 16,640,846 shares of the company’s stock valued at $1,056,028,000 after purchasing an additional 349,086 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 1.4 %

C opened at $62.11 on Friday. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The business’s 50-day moving average price is $61.30 and its 200-day moving average price is $61.46. The company has a market cap of $118.47 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $20.07 billion. During the same quarter in the previous year, the company earned $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.61%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Evercore ISI raised their price objective on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Morgan Stanley upped their price objective on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada boosted their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Finally, Argus raised their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.