Korea Investment CORP Decreases Stock Position in Citigroup Inc. (NYSE:C)

Financial News Live · Nov 23, 2022 23:16

Korea Investment CORP lessened its position in Citigroup Inc. (NYSE:C – Get Rating) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,880,036 shares of the company's stock after selling 230,637 shares during the quarter. Korea Investment CORP owned about 0.10% of Citigroup worth $86,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Citigroup by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 168,683,301 shares of the company's stock worth $9,007,688,000 after acquiring an additional 3,697,137 shares during the period. BlackRock Inc. raised its holdings in shares of Citigroup by 2.9% during the 1st quarter. BlackRock Inc. now owns 164,865,664 shares of the company's stock worth $8,803,824,000 after acquiring an additional 4,702,380 shares during the period. State Street Corp raised its holdings in shares of Citigroup by 1.4% during the 1st quarter. State Street Corp now owns 93,306,092 shares of the company's stock worth $4,982,545,000 after acquiring an additional 1,244,093 shares during the period. Snider Financial Group raised its holdings in shares of Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company's stock worth $4,512,000 after acquiring an additional 84,407,589 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Citigroup by 9.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 15,631,074 shares of the company's stock worth $718,873,000 after acquiring an additional 1,389,718 shares during the period. Hedge funds and other institutional investors own 71.46% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their target price on Citigroup from $76.00 to $71.00 and set an "outperform" rating on the stock in a research report on Monday, October 17th. Oppenheimer reduced their target price on Citigroup to $79.00 in a research report on Thursday, October 20th. Credit Suisse Group set a $54.00 target price on Citigroup in a research report on Monday, October 10th. StockNews.com assumed coverage on Citigroup in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Citigroup from $55.00 to $52.00 and set a "hold" rating on the stock in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $58.60.

Citigroup Stock Up 0.1 %

NYSE C traded up $0.07 during trading hours on Wednesday, hitting $49.40. 51,160 shares of the company were exchanged, compared to its average volume of 16,817,572. The company has a 50 day moving average of $45.29 and a two-hundred day moving average of $48.30. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.40. Citigroup Inc. has a 52-week low of $40.01 and a 52-week high of $69.11. The firm has a market cap of $95.68 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 0.71 and a beta of 1.58.

Citigroup (NYSE:C – Get Rating) last issued its quarterly earnings results on Friday, October 14th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.17. Citigroup had a return on equity of 9.14% and a net margin of 17.31%. The company had revenue of $18.51 billion for the quarter, compared to the consensus estimate of $18.28 billion. During the same quarter in the prior year, the business earned $2.49 EPS. Citigroup's revenue was up 5.9% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 7.09 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Monday, November 7th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, November 4th. This represents a $2.04 annualized dividend and a dividend yield of 4.13%. Citigroup's dividend payout ratio is currently 27.95%.

Insider Transactions at Citigroup

In related news, insider Citigroup Inc sold 4,614,358 shares of the company's stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.25, for a total value of $167,270,477.50. Following the completion of the sale, the insider now directly owns 15,318 shares of the company's stock, valued at approximately $555,277.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

Citigroup Company Profile

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Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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