Citigroup Inc. (NYSE:C) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its position in shares of Citigroup Inc. (NYSE:C) by 13.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 178,205 shares of the company’s stock after selling 27,474 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Citigroup were worth $11,309,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of C. SYM FINANCIAL Corp bought a new stake in Citigroup during the second quarter worth approximately $368,000. HBK Sorce Advisory LLC boosted its stake in shares of Citigroup by 16.0% during the 2nd quarter. HBK Sorce Advisory LLC now owns 10,950 shares of the company’s stock worth $695,000 after acquiring an additional 1,507 shares in the last quarter. Pinkerton Retirement Specialists LLC grew its holdings in shares of Citigroup by 8.0% in the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 70,184 shares of the company’s stock worth $4,454,000 after acquiring an additional 5,194 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Citigroup by 43.3% during the second quarter. Meeder Advisory Services Inc. now owns 37,130 shares of the company’s stock worth $2,356,000 after purchasing an additional 11,222 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Citigroup by 0.9% during the second quarter. Oppenheimer & Co. Inc. now owns 368,793 shares of the company’s stock valued at $23,404,000 after purchasing an additional 3,124 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Argus raised their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Royal Bank of Canada upped their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Evercore ISI raised their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Finally, Oppenheimer increased their price target on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Price Performance

NYSE:C opened at $57.69 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The company has a fifty day moving average price of $61.81 and a 200 day moving average price of $61.29. The stock has a market cap of $110.05 billion, a P/E ratio of 16.16, a PEG ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter last year, the company earned $1.37 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Analysts anticipate that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.88%. 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 payout ratio is 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.