Dimensional Fund Advisors LP Boosts Stock Position in Citigroup Inc. (NYSE:C)

Dimensional Fund Advisors LP grew its holdings in shares of Citigroup Inc. (NYSE:C) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,300,447 shares of the company’s stock after purchasing an additional 168,070 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.49% of Citigroup worth $590,106,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in 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 worth $2,005,749,000 after purchasing an additional 17,525,484 shares in the last quarter. Norges Bank bought a new stake in Citigroup during the 4th quarter worth approximately $867,599,000. Bank of New York Mellon Corp boosted its holdings in Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after purchasing an additional 4,620,867 shares during the period. Swedbank AB purchased a new position in shares of Citigroup during the 1st quarter valued at $253,286,000. Finally, Acadian Asset Management LLC raised its position in shares of Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 0.6 %

NYSE C opened at $57.67 on Monday. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The stock has a market capitalization of $110.00 billion, a PE ratio of 16.15, a PEG ratio of 0.62 and a beta of 1.45. 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 business’s 50-day moving average is $61.81 and its 200 day moving average is $61.38.

Citigroup (NYSE:C) last posted 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. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.88%. Citigroup’s payout ratio is presently 62.75%.

Analysts Set New Price Targets

C has been the topic of a number of research analyst reports. Argus upped their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. The Goldman Sachs Group decreased their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Piper Sandler increased their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada raised their price objective 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s 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.