Investment Management Corp of Ontario Sells 67,537 Shares of Citigroup Inc. $C

by · The Markets Daily

Investment Management Corp of Ontario decreased its holdings in Citigroup Inc. (NYSE:C – Free Report) by 25.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 195,148 shares of the company’s stock after selling 67,537 shares during the period. Investment Management Corp of Ontario’s holdings in Citigroup were worth $16,611,000 as of its most recent SEC filing.

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

Citigroup Price Performance

Shares of C opened at $108.85 on Tuesday. The firm has a market cap of $194.76 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.54 and a beta of 1.21. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $110.25. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $100.22 and its two-hundred day moving average price is $93.49.

Citigroup (NYSE:C – Get Free Report) last released its 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 company had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. Citigroup’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on C shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, October 8th. Bank of America lifted their price target on shares of Citigroup from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Truist Financial boosted their price objective on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Keefe, Bruyette & Woods upped their price target on Citigroup from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.70.

Check Out Our Latest Stock Report 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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