Cim Investment Management Inc. increased its position in shares of Citigroup Inc. (NYSE:C) by 191.6% in the second quarter, Holdings Channel reports. The institutional investor owned 22,089 shares of the company’s stock after buying an additional 14,515 shares during the period. Citigroup comprises 0.5% of Cim Investment Management Inc.’s portfolio, making the stock its 27th biggest holding. Cim Investment Management Inc.’s holdings in Citigroup were worth $1,563,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. E Fund Management Co. Ltd. acquired a new position in Citigroup during the first quarter valued at approximately $267,000. Harbour Investments Inc. acquired a new position in Citigroup during the first quarter valued at approximately $98,000. Harvest Fund Management Co. Ltd lifted its position in shares of Citigroup by 232.2% in the first quarter. Harvest Fund Management Co. Ltd now owns 960 shares of the company’s stock valued at $69,000 after buying an additional 671 shares during the last quarter. Crake Asset Management LLP lifted its position in shares of Citigroup by 42.0% in the first quarter. Crake Asset Management LLP now owns 1,411,961 shares of the company’s stock valued at $102,720,000 after buying an additional 417,953 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Citigroup by 8.1% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 412,601 shares of the company’s stock valued at $30,017,000 after buying an additional 31,011 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.
A number of equities analysts have commented on the company. Keefe, Bruyette & Woods assumed coverage on Citigroup in a research note on Wednesday, July 7th. They set an “outperform” rating and a $85.00 price objective on the stock. Morgan Stanley raised their price objective on Citigroup from $89.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Piper Sandler lowered their price objective on Citigroup from $95.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, July 15th. Royal Bank of Canada restated a “buy” rating and set a $73.00 price objective on shares of Citigroup in a research note on Wednesday, July 7th. Finally, Credit Suisse Group lowered their price objective on Citigroup from $83.00 to $82.00 and set an “outperform” rating on the stock in a research note on Monday, July 19th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $78.97.
Citigroup (NYSE:C) last issued its earnings results on Thursday, October 14th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.36. Citigroup had a return on equity of 12.10% and a net margin of 27.21%. The business had revenue of $17.15 billion during the quarter, compared to analyst estimates of $16.93 billion. During the same period in the previous year, the company posted $1.40 EPS. The firm’s revenue was down .9% compared to the same quarter last year. As a group, research analysts anticipate that Citigroup Inc. will post 9.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Monday, August 2nd were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, July 30th. Citigroup’s payout ratio is 41.80%.
Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.
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