Letko Brosseau & Associates Inc. Cuts Stock Holdings in Citigroup Inc (NYSE:C)

Letko Brosseau & Associates Inc. decreased its holdings in shares of Citigroup Inc (NYSE:C) by 6.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,985,592 shares of the financial services provider’s stock after selling 220,014 shares during the period. Citigroup accounts for about 2.1% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 15th largest position. Letko Brosseau & Associates Inc.’s holdings in Citigroup were worth $209,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Artisan Partners Limited Partnership increased its position in Citigroup by 1.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 11,033,376 shares of the financial services provider’s stock valued at $686,497,000 after purchasing an additional 124,374 shares during the period. Sanders Capital LLC boosted its holdings in shares of Citigroup by 2.5% in the 2nd quarter. Sanders Capital LLC now owns 10,354,948 shares of the financial services provider’s stock valued at $818,349,000 after buying an additional 251,300 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Citigroup by 7.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 8,150,246 shares of the financial services provider’s stock valued at $507,108,000 after buying an additional 559,038 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Citigroup by 6.1% in the 1st quarter. Janus Henderson Group PLC now owns 4,450,450 shares of the financial services provider’s stock valued at $276,925,000 after buying an additional 254,562 shares in the last quarter. Finally, AJO LP boosted its holdings in shares of Citigroup by 23.5% in the 1st quarter. AJO LP now owns 4,144,296 shares of the financial services provider’s stock valued at $257,858,000 after buying an additional 789,759 shares in the last quarter. 77.65% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on C shares. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Morgan Stanley set a $78.00 price target on shares of Citigroup and gave the company a “buy” rating in a report on Friday, August 9th. Bank of America cut shares of Citigroup to a “hold” rating in a report on Friday, July 26th. ValuEngine cut shares of Citigroup from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and raised their price target for the company from $74.00 to $86.00 in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Citigroup currently has an average rating of “Buy” and an average price target of $79.40.

C stock traded down $0.45 during trading on Thursday, reaching $60.96. The company had a trading volume of 9,661,081 shares, compared to its average volume of 13,639,416. The business has a 50-day simple moving average of $69.66. The firm has a market cap of $145.12 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 0.70 and a beta of 1.76. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup Inc has a twelve month low of $48.42 and a twelve month high of $75.24.

Citigroup (NYSE:C) last released its earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.17. The company had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. Citigroup’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. As a group, analysts expect that Citigroup Inc will post 7.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 2nd. This is a boost from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 dividend on an annualized basis and a yield of 3.35%. Citigroup’s dividend payout ratio (DPR) is 30.68%.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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