Sandy Spring Bank Increases Stake in Citigroup Inc (NYSE:C)

Sandy Spring Bank raised its holdings in shares of Citigroup Inc (NYSE:C) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,317 shares of the financial services provider’s stock after buying an additional 2,348 shares during the period. Sandy Spring Bank’s holdings in Citigroup were worth $2,194,000 at the end of the most recent quarter.

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

C traded up $0.06 during trading on Thursday, hitting $61.47. 6,233,423 shares of the company traded hands, compared to its average volume of 13,639,416. The company has a market cap of $145.12 billion, a P/E ratio of 9.24, a PEG ratio of 0.70 and a beta of 1.76. The stock has a 50-day moving average price of $69.66. Citigroup Inc has a 1 year low of $48.42 and a 1 year high of $75.24. 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 (NYSE:C) last posted its earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $1.63 earnings per share. Analysts anticipate that Citigroup Inc will post 7.55 earnings per share for the current fiscal 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.32%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 2nd. Citigroup’s dividend payout ratio (DPR) is presently 30.68%.

A number of analysts have recently issued reports on the stock. Goldman Sachs Group raised shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price objective for the company in a research note on Thursday, May 30th. BMO Capital Markets cut shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Berenberg Bank set a $78.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, Morgan Stanley set a $78.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $79.40.

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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