Citigroup Inc. (NYSE:C) Stake Boosted by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd raised its holdings in shares of Citigroup Inc. (NYSE:C) by 41.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,610 shares of the company’s stock after purchasing an additional 6,610 shares during the period. Citigroup comprises about 0.5% of Central Asset Investments & Management Holdings HK Ltd’s portfolio, making the stock its 21st largest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Citigroup were worth $1,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MONECO Advisors LLC lifted its position in Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after buying an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Citigroup by 4.0% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after acquiring an additional 164 shares in the last quarter. NorthRock Partners LLC boosted its position in Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. increased its position in Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the last quarter. Finally, Gries Financial LLC raised its stake in shares of Citigroup by 3.0% during the 2nd quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after purchasing an additional 176 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE:C opened at $59.30 on Wednesday. The company has a market cap of $113.10 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.62 and a beta of 1.45. The business has a 50 day moving average price of $61.54 and a 200 day moving average price of $61.42. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81.

Citigroup (NYSE:C) last posted its quarterly earnings data 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. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 earnings per share. Research analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.78%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on C shares. Morgan Stanley increased their price objective on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group dropped their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Oppenheimer lifted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Evercore ISI upped their price objective on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada raised their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. One equities 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 company. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target 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.