TD Asset Management Inc. cut its holdings in shares of Citigroup Inc (NYSE:C) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 804,302 shares of the financial services provider’s stock after selling 23,580 shares during the period. TD Asset Management Inc.’s holdings in Citigroup were worth $56,325,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. LFA Lugano Financial Advisors SA acquired a new position in shares of Citigroup in the 1st quarter valued at $27,000. Personal Wealth Partners acquired a new position in shares of Citigroup in the 2nd quarter valued at $27,000. Harvest Group Wealth Management LLC acquired a new position in shares of Citigroup in the 1st quarter valued at $28,000. Centaurus Financial Inc. lifted its stake in shares of Citigroup by 95.1% in the 1st quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 835 shares during the period. Finally, Mcmillion Capital Management Inc. acquired a new position in shares of Citigroup in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 77.65% of the company’s stock.
A number of research firms have recently weighed in on C. Wells Fargo & Co set a $90.00 price target on Citigroup and gave the company a “buy” rating in a research note on Friday, May 3rd. Bank of America downgraded Citigroup to a “hold” rating in a research note on Friday, July 26th. Barclays increased their price target on Citigroup from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $74.00 to $86.00 in a research note on Friday, July 26th. Finally, ValuEngine downgraded Citigroup from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. Citigroup currently has a consensus rating of “Buy” and an average price target of $79.40.
Citigroup (NYSE:C) last released its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.17. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The company had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $18.49 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that Citigroup Inc will post 7.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.31%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 2nd. Citigroup’s dividend payout ratio (DPR) is 30.68%.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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