Los Angeles Capital Management LLC Lowers Position in Citigroup Inc. (NYSE:C)

Los Angeles Capital Management LLC trimmed its holdings in Citigroup Inc. (NYSE:C) by 19.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,732,179 shares of the company’s stock after selling 406,686 shares during the period. Los Angeles Capital Management LLC’s holdings in Citigroup were worth $109,924,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Citigroup by 123.5% in 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 buying an additional 17,525,484 shares in the last quarter. Norges Bank purchased a new position in Citigroup in the fourth quarter worth about $867,599,000. Bank of New York Mellon Corp raised its position in Citigroup by 18.4% during the first 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 in the 1st quarter worth approximately $253,286,000. Finally, Caxton Associates LP increased its position in shares of Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on C. Morgan Stanley raised their price target on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Argus upped their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Evercore ISI raised their price objective on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada upped their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Finally, Piper Sandler increased their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Stock Down 2.5 %

NYSE:C traded down $1.54 during trading hours on Friday, reaching $59.09. The company’s stock had a trading volume of 14,093,986 shares, compared to its average volume of 14,589,779. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $112.71 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. The stock has a 50 day moving average price of $62.44 and a two-hundred day moving average price of $61.21. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. Equities analysts predict that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend 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.