Meiji Yasuda Life Insurance Co Buys 8,090 Shares of Citigroup Inc. (NYSE:C)

by · The Markets Daily

Meiji Yasuda Life Insurance Co boosted its stake in Citigroup Inc. (NYSE:C – Free Report) by 28.6% during the 2nd quarter, Holdings Channel reports. The firm owned 36,342 shares of the company’s stock after buying an additional 8,090 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Citigroup were worth $2,306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in C. Price T Rowe Associates Inc. MD lifted its position in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Citigroup by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after acquiring an additional 250,716 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 8.0% in the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after acquiring an additional 1,836,283 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of Citigroup by 7.9% during the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after purchasing an additional 1,300,520 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in Citigroup by 1.3% during the 4th quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock valued at $866,797,000 after purchasing an additional 223,206 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of NYSE:C opened at $59.30 on Wednesday. The firm has a 50 day moving average of $61.54 and a 200 day moving average 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. The company has a market capitalization of $113.10 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.37 EPS. On average, sell-side analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend 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 is presently 62.75%.

Analysts Set New Price Targets

Several analysts have issued reports on C shares. Evercore ISI raised their price objective on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Piper Sandler boosted their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. The Goldman Sachs Group cut their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley lifted their target price on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Check Out Our Latest 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.

Further Reading

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