Citigroup Inc (NYSE:C) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its holdings in shares of Citigroup Inc (NYSE:C) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,157,672 shares of the financial services provider’s stock after selling 129,243 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Citigroup worth $221,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Perigon Wealth Management LLC increased its holdings in shares of Citigroup by 13.3% in the second quarter. Perigon Wealth Management LLC now owns 6,601 shares of the financial services provider’s stock valued at $462,000 after buying an additional 776 shares in the last quarter. First Interstate Bank increased its holdings in shares of Citigroup by 1.2% in the second quarter. First Interstate Bank now owns 19,036 shares of the financial services provider’s stock valued at $1,333,000 after buying an additional 218 shares in the last quarter. Condor Capital Management increased its holdings in shares of Citigroup by 2.2% in the second quarter. Condor Capital Management now owns 32,939 shares of the financial services provider’s stock valued at $2,307,000 after buying an additional 699 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Citigroup by 50.8% in the second quarter. 180 Wealth Advisors LLC now owns 14,609 shares of the financial services provider’s stock valued at $999,000 after buying an additional 4,919 shares in the last quarter. Finally, GWM Advisors LLC increased its holdings in shares of Citigroup by 2.5% in the second quarter. GWM Advisors LLC now owns 25,631 shares of the financial services provider’s stock valued at $1,795,000 after buying an additional 618 shares in the last quarter. Institutional investors and hedge funds own 76.78% of the company’s stock.

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and upped their price target for the company from $74.00 to $86.00 in a report on Friday, July 26th. Bank of America cut Citigroup to a “hold” rating in a report on Friday, July 26th. Barclays boosted their target price on shares of Citigroup from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Goldman Sachs Group raised shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 target price on the stock in a research note on Thursday, May 30th. Finally, BMO Capital Markets downgraded shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.12.

Shares of Citigroup stock traded down $0.48 on Tuesday, hitting $63.83. 3,466,314 shares of the company traded hands, compared to its average volume of 15,033,530. The company has a 50-day moving average price of $69.07 and a 200 day moving average price of $66.42. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40. Citigroup Inc has a 12-month low of $48.42 and a 12-month high of $75.24. The company has a market cap of $143.40 billion, a PE ratio of 9.60, a PEG ratio of 0.69 and a beta of 1.76.

Citigroup (NYSE:C) last posted its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.78 by $0.17. The business had revenue of $18.76 billion for 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 was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. Equities research analysts anticipate that Citigroup Inc will post 7.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued 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 3.20%. Citigroup’s dividend payout ratio is currently 30.68%.

Citigroup Profile

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).

Read More: Why is the ex-dividend date different from the record date?

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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