Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Citigroup Inc. (NYSE:C – Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 431,574 shares of the company’s stock after selling 12,148 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Citigroup were worth $20,237,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Snider Financial Group lifted its position in Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock worth $4,512,000 after acquiring an additional 84,407,589 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Citigroup by 216,016.2% during the first quarter. Fisher Asset Management LLC now owns 21,888,245 shares of the company’s stock worth $1,026,340,000 after purchasing an additional 21,878,117 shares in the last quarter. Norges Bank purchased a new position in shares of Citigroup in the fourth quarter valued at $631,922,000. Price T Rowe Associates Inc. MD boosted its position in Citigroup by 67.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,411,429 shares of the company’s stock valued at $923,209,000 after buying an additional 8,217,942 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its position in shares of Citigroup by 87,332.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,511,342 shares of the company’s stock worth $339,738,000 after acquiring an additional 7,502,751 shares during the last quarter. Institutional investors and hedge funds own 69.39% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. StockNews.com initiated coverage on Citigroup in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Credit Suisse Group reduced their price objective on shares of Citigroup from $54.00 to $50.00 in a research note on Wednesday, May 24th. Societe Generale downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Wells Fargo & Company reduced their price target on shares of Citigroup from $65.00 to $60.00 in a research report on Wednesday, June 28th. Finally, Piper Sandler lowered their price objective on Citigroup from $53.00 to $50.00 in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Hold” and an average target price of $53.73.
Citigroup Stock Performance
Citigroup (NYSE:C – Get Free Report) last posted its earnings results on Friday, July 14th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $19.34 billion. Citigroup had a net margin of 10.24% and a return on equity of 6.80%. Citigroup’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.30 EPS. As a group, equities analysts anticipate that Citigroup Inc. will post 5.75 earnings per share for the current year.
Citigroup Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Friday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.51. Citigroup’s payout ratio is 33.60%.
Citigroup Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.
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