Anchor Investment Management LLC Has $130,000 Stock Holdings in Citigroup Inc. (NYSE:C)

Anchor Investment Management LLC cut its stake in Citigroup Inc. (NYSE:C) by 10.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,056 shares of the company’s stock after selling 249 shares during the period. Anchor Investment Management LLC’s holdings in Citigroup were worth $130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MONECO Advisors LLC raised its holdings in shares of Citigroup by 2.9% during the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after buying an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after buying an additional 164 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Citigroup by 2.7% during the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after buying an additional 165 shares in the last quarter. Legacy Capital Group California Inc. raised its holdings in shares of Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after buying an additional 169 shares in the last quarter. Finally, Gries Financial LLC raised its holdings in shares of Citigroup by 3.0% during the 2nd quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after buying an additional 176 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on C shares. The Goldman Sachs Group lowered their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Argus boosted their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. BMO Capital Markets boosted their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley boosted their price objective on Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Piper Sandler upped their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $69.06.

Citigroup Stock Performance

C stock opened at $62.64 on Friday. The firm has a market cap of $119.48 billion, a PE ratio of 17.55, a P/E/G ratio of 0.69 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The business has a 50 day moving average of $60.66 and a 200-day moving average of $61.74. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. The company 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%. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 earnings per share. As a group, sell-side analysts expect that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

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.