Primecap Management Co. CA Decreases Stock Position in Citigroup Inc. (NYSE:C)

Primecap Management Co. CA trimmed its position in shares of Citigroup Inc. (NYSE:C) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,573,345 shares of the company’s stock after selling 81,701 shares during the period. Primecap Management Co. CA’s holdings in Citigroup were worth $226,764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Moors & Cabot Inc. increased its holdings in Citigroup by 17.1% during the 2nd quarter. Moors & Cabot Inc. now owns 17,347 shares of the company’s stock worth $1,101,000 after purchasing an additional 2,539 shares during the last quarter. Excalibur Management Corp grew its position in shares of Citigroup by 1.2% during the second quarter. Excalibur Management Corp now owns 15,116 shares of the company’s stock worth $959,000 after buying an additional 177 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Citigroup by 10.3% in the second quarter. Renaissance Technologies LLC now owns 1,278,643 shares of the company’s stock worth $81,143,000 after buying an additional 119,123 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Citigroup by 36.3% in the second quarter. Citizens Financial Group Inc. RI now owns 11,759 shares of the company’s stock valued at $746,000 after acquiring an additional 3,131 shares in the last quarter. Finally, One Capital Management LLC boosted its stake in Citigroup by 3.8% during the 2nd quarter. One Capital Management LLC now owns 152,837 shares of the company’s stock valued at $9,699,000 after acquiring an additional 5,606 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.2 %

Citigroup stock opened at $58.39 on Tuesday. 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 Inc. has a one year low of $38.17 and a one year high of $67.81. The company has a 50-day simple moving average of $61.68 and a 200-day simple moving average of $61.40. The firm has a market capitalization of $111.38 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping 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 firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts expect 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. Stockholders 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 3.84%. Citigroup’s dividend payout ratio is presently 62.75%.

Analysts Set New Price Targets

C has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods boosted 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. Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Oppenheimer lifted their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Evercore ISI upped their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.25.

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.