Columbia Asset Management Sells 4,161 Shares of Citigroup Inc. (NYSE:C)

Columbia Asset Management lessened its stake in shares of Citigroup Inc. (NYSE:C) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,655 shares of the company’s stock after selling 4,161 shares during the quarter. Columbia Asset Management’s holdings in Citigroup were worth $2,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in C. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Citigroup by 40.8% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 50,545 shares of the company’s stock worth $3,208,000 after purchasing an additional 14,650 shares in the last quarter. First Pacific Advisors LP raised its holdings in shares of Citigroup by 2.1% in the 2nd quarter. First Pacific Advisors LP now owns 6,849,991 shares of the company’s stock worth $434,700,000 after acquiring an additional 138,136 shares during the last quarter. First Business Financial Services Inc. raised its holdings in shares of Citigroup by 2.0% in the 2nd quarter. First Business Financial Services Inc. now owns 38,104 shares of the company’s stock worth $2,418,000 after acquiring an additional 751 shares during the last quarter. Hohimer Wealth Management LLC acquired a new position in Citigroup during the 2nd quarter valued at about $4,308,000. Finally, Stablepoint Partners LLC raised its stake in shares of Citigroup by 66.7% in the second quarter. Stablepoint Partners LLC now owns 6,249 shares of the company’s stock worth $402,000 after purchasing an additional 2,500 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods upped 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. Evercore ISI lifted their price target on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Piper Sandler raised their target price on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Oppenheimer increased their price target on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One 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. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Trading Down 0.6 %

Shares of C stock opened at $60.62 on Friday. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The company’s fifty day simple moving average is $62.52 and its two-hundred day simple moving average is $61.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $115.63 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.68 and a beta of 1.46.

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. The company had revenue of $20.14 billion for 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 firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 EPS. As a group, analysts anticipate that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.70%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 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.