Stevens Capital Management LP lifted its position in shares of Citigroup Inc. (NYSE:C) by 29.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,486 shares of the company’s stock after acquiring an additional 6,292 shares during the period. Citigroup makes up about 0.6% of Stevens Capital Management LP’s portfolio, making the stock its 27th largest holding. Stevens Capital Management LP’s holdings in Citigroup were worth $1,945,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in C. Logan Capital Management Inc. acquired a new position in Citigroup during the 1st quarter worth approximately $37,000. Lee Financial Co increased its position in Citigroup by 44.1% during the 2nd quarter. Lee Financial Co now owns 526 shares of the company’s stock worth $37,000 after purchasing an additional 161 shares in the last quarter. Elmwood Wealth Management Inc. acquired a new position in Citigroup during the 1st quarter worth approximately $46,000. USA Financial Portformulas Corp increased its position in Citigroup by 3,877.8% in the 2nd quarter. USA Financial Portformulas Corp now owns 716 shares of the company’s stock valued at $51,000 after acquiring an additional 698 shares during the period. Finally, Valley National Advisers Inc. increased its position in Citigroup by 27.6% in the 2nd quarter. Valley National Advisers Inc. now owns 753 shares of the company’s stock valued at $53,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.
Several brokerages have issued reports on C. Wells Fargo & Company upped their price target on shares of Citigroup from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 8th. Piper Sandler decreased their price target on shares of Citigroup from $95.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, July 15th. Royal Bank of Canada restated a “buy” rating and issued a $73.00 price target on shares of Citigroup in a research report on Wednesday, July 7th. Morgan Stanley upped their price target on shares of Citigroup from $89.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Finally, Credit Suisse Group decreased their price target on shares of Citigroup from $83.00 to $82.00 and set an “outperform” rating for the company in a research report on Monday, July 19th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $79.97.
Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, July 13th. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.91. Citigroup had a net margin of 27.21% and a return on equity of 12.10%. The firm had revenue of $17.50 billion for the quarter, compared to analyst estimates of $17.18 billion. During the same period last year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, research analysts forecast that Citigroup Inc. will post 9.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Monday, August 2nd were issued a $0.51 dividend. The ex-dividend date was Friday, July 30th. This represents a $2.04 annualized dividend and a dividend yield of 2.82%. Citigroup’s dividend payout ratio is currently 41.80%.
Citigroup Company Profile
Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.
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