State of Michigan Retirement System boosted its stake in shares of Citigroup Inc (NYSE:C) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 531,714 shares of the financial services provider’s stock after purchasing an additional 31,258 shares during the quarter. State of Michigan Retirement System’s holdings in Citigroup were worth $27,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of C. Macquarie Group Ltd. increased its holdings in Citigroup by 3.9% during the 4th quarter. Macquarie Group Ltd. now owns 375,373 shares of the financial services provider’s stock worth $29,989,000 after purchasing an additional 14,129 shares during the period. Fulton Bank N.A. increased its holdings in shares of Citigroup by 3.1% in the 1st quarter. Fulton Bank N.A. now owns 20,125 shares of the financial services provider’s stock valued at $848,000 after acquiring an additional 606 shares during the last quarter. Nexus Investment Management Inc. increased its holdings in shares of Citigroup by 12.1% in the 1st quarter. Nexus Investment Management Inc. now owns 446,610 shares of the financial services provider’s stock valued at $18,811,000 after acquiring an additional 48,250 shares during the last quarter. Triangle Securities Wealth Management increased its holdings in shares of Citigroup by 5.2% in the 1st quarter. Triangle Securities Wealth Management now owns 31,995 shares of the financial services provider’s stock valued at $1,348,000 after acquiring an additional 1,588 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Citigroup by 5.3% in the 1st quarter. State of Alaska Department of Revenue now owns 418,668 shares of the financial services provider’s stock valued at $17,633,000 after acquiring an additional 20,898 shares during the last quarter. Institutional investors own 77.29% of the company’s stock.

Citigroup stock 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 twelve month low of $32.00 and a twelve month high of $83.11. The firm’s 50-day simple moving average is $51.41 and its two-hundred day simple moving average is $55.63. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.99 and a current ratio of 0.98. The firm has a market cap of $105.90 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.82.

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

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

A number of research analysts have recently commented on the company. UBS Group increased their price objective on Citigroup from $50.00 to $64.00 and gave the company a “buy” rating in a report on Monday, May 4th. Piper Sandler dropped their price objective on Citigroup from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, April 3rd. Seaport Global Securities assumed coverage on Citigroup in a report on Wednesday, July 8th. They issued a “buy” rating and a $65.00 price objective on the stock. Oppenheimer dropped their price objective on Citigroup from $106.00 to $101.00 and set an “outperform” rating on the stock in a report on Tuesday, July 14th. Finally, Berenberg Bank raised their price target on Citigroup from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.03.

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).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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