Convergence Investment Partners LLC Purchases 10,276 Shares of Citigroup Inc (NYSE:C)

Convergence Investment Partners LLC boosted its position in Citigroup Inc (NYSE:C) by 18.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,796 shares of the financial services provider’s stock after purchasing an additional 10,276 shares during the quarter. Citigroup comprises about 1.1% of Convergence Investment Partners LLC’s portfolio, making the stock its 20th biggest holding. Convergence Investment Partners LLC’s holdings in Citigroup were worth $3,311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hoylecohen LLC grew its position in Citigroup by 0.8% during the 2nd quarter. Hoylecohen LLC now owns 28,207 shares of the financial services provider’s stock worth $1,441,000 after purchasing an additional 210 shares in the last quarter. Washington Trust Bank grew its position in Citigroup by 1.4% in the second quarter. Washington Trust Bank now owns 15,565 shares of the financial services provider’s stock worth $795,000 after buying an additional 222 shares during the last quarter. Cetera Advisors LLC grew its position in Citigroup by 0.4% in the first quarter. Cetera Advisors LLC now owns 57,143 shares of the financial services provider’s stock worth $2,407,000 after buying an additional 236 shares during the last quarter. Allworth Financial LP grew its position in Citigroup by 5.4% in the second quarter. Allworth Financial LP now owns 4,578 shares of the financial services provider’s stock worth $234,000 after buying an additional 236 shares during the last quarter. Finally, Column Capital Advisors LLC grew its position in Citigroup by 16.0% in the first quarter. Column Capital Advisors LLC now owns 1,715 shares of the financial services provider’s stock worth $72,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 77.29% of the company’s stock.

Several analysts have recently weighed in on the company. ValuEngine raised Citigroup from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $58.00 price target on shares of Citigroup in a research note on Friday, July 3rd. Oppenheimer decreased their price target on Citigroup from $106.00 to $101.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. Morgan Stanley boosted their price target on Citigroup from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Finally, Argus raised Citigroup from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, April 20th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Citigroup has an average rating of “Buy” and an average target price of $74.03.

NYSE:C traded down $0.35 during mid-day trading on Friday, reaching $50.01. 22,488,389 shares of the company were exchanged, compared to its average volume of 20,471,188. Citigroup Inc has a 12 month low of $32.00 and a 12 month high of $83.11. The company has a fifty day moving average of $51.41 and a 200 day moving average of $55.63. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. The stock has a market cap of $105.90 billion, a PE ratio of 8.67, a PEG ratio of 1.49 and a beta of 1.82.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Citigroup had a net margin of 13.64% and a return on equity of 7.40%. The firm had revenue of $19.77 billion for the quarter, compared to analyst estimates of $19.06 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Citigroup Inc will post 3.25 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Friday, July 31st. Citigroup’s dividend payout ratio is currently 26.91%.

Citigroup Company 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).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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