Royal Fund Management LLC Reduces Position in Citigroup Inc. $C

by · The Markets Daily

Royal Fund Management LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C – Free Report) by 45.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,254 shares of the company’s stock after selling 8,424 shares during the period. Royal Fund Management LLC’s holdings in Citigroup were worth $873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of C. Vanguard Group Inc. grew its position in Citigroup by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 165,851,890 shares of the company’s stock valued at $14,117,313,000 after acquiring an additional 1,148,451 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Citigroup by 1.0% during the second quarter. Geode Capital Management LLC now owns 42,957,190 shares of the company’s stock worth $3,645,084,000 after purchasing an additional 411,894 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares during the period. Franklin Resources Inc. grew its holdings in shares of Citigroup by 2.2% in the second quarter. Franklin Resources Inc. now owns 32,290,532 shares of the company’s stock worth $2,748,571,000 after purchasing an additional 679,967 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Citigroup by 3.2% in the 2nd quarter. Fisher Asset Management LLC now owns 32,161,457 shares of the company’s stock worth $2,737,583,000 after buying an additional 988,152 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Up 1.1%

Citigroup stock opened at $108.95 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The firm has a market cap of $194.94 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.53 and a beta of 1.21. The business has a fifty day moving average of $100.11 and a two-hundred day moving average of $92.98. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $109.37.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. The business had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $1.51 EPS. On average, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd were issued a $0.60 dividend. The ex-dividend date was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.2%. Citigroup’s payout ratio is currently 33.71%.

Wall Street Analyst Weigh In

Several research firms have issued reports on C. Piper Sandler boosted their price objective on shares of Citigroup from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Truist Financial increased their price objective on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Bank of America lifted their target price on Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, TD Cowen upped their target price on Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.70.

Read Our Latest Stock Analysis on Citigroup

Citigroup Profile

(Free Report)

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.

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