Donald Smith & CO. Inc. Reduces Stock Position in Citigroup Inc. (NYSE:C)

Donald Smith & CO. Inc. cut its holdings in shares of Citigroup Inc. (NYSE:C) by 21.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,268,294 shares of the company’s stock after selling 336,487 shares during the quarter. Citigroup makes up approximately 2.1% of Donald Smith & CO. Inc.’s holdings, making the stock its 20th largest holding. Donald Smith & CO. Inc. owned about 0.07% of Citigroup worth $80,486,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in C. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $2,005,749,000 after acquiring an additional 17,525,484 shares during the last quarter. Norges Bank bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $867,599,000. Bank of New York Mellon Corp increased its holdings in shares of 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 acquiring an additional 4,620,867 shares during the last quarter. Swedbank AB bought a new stake in shares of Citigroup in the 1st quarter valued at approximately $253,286,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 0.6 %

Citigroup stock opened at $57.67 on Monday. The firm’s 50 day moving average price is $61.81 and its two-hundred day moving average price is $61.38. The firm has a market cap of $110.00 billion, a PE ratio of 16.15, a P/E/G ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping 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 business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period last year, the company earned $1.37 earnings per share. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts predict that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on C shares. Evercore ISI upped their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Morgan Stanley upped their price objective on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Oppenheimer upped their price objective on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods upped their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price 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.