Citigroup Inc. Shares (NYSE:C) sold by Federated Hermes Inc.

VaselineSeptember 15, 2024

0 4 minutes read

Federated Hermes Inc. reduced its position in shares of Citigroup Inc. (NYSE:C – Free Report) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 465,849 shares of the company’s stock after selling 20,423 shares during the quarter. Holdings of Federated Hermes Inc. holdings in Citigroup were worth $29,563,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp grew its position in Citigroup by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after buying an additional 250,716 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Citigroup by 8.0% in the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after purchasing an additional 1,836,283 shares during the last quarter. Putnam Investments LLC lifted its position in shares of Citigroup by 7.9% in the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after acquiring an additional 1,300,520 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Citigroup in the fourth quarter valued at $867,599,000. 71.72% of the shares are currently owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

A number of equities research analysts recently issued reports on the company. Evercore ISI upped their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Argus upped their target price on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada raised their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, 17 June. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.25, according to MarketBeat.com.

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Citigroup stock performance

Shares of C opened at $57.67 on Friday. Citigroup Inc. it has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The stock’s 50-day moving average is $61.81, and its two-hundred-day moving average is $61.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94, and a quick ratio of 0.94. The firm has a market cap of $110.02 billion, a P/E ratio of 16.15, a PEG ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C – Get Your Free Report ) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s revenue rose 3.6% year-over-year. In the same quarter last year, the company posted earnings of $1.37 per share. Analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup raises dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.56 dividend. This represents an annualized dividend of $2.24 and a dividend yield of 3.88%. The ex-dividend date was Monday, August 5. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

About Citigroup

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Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments and institutions around the world. It operates through five segments: Services, Markets, Banking, US Personal Banking and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade and working capital solutions to multinational corporations, financial institutions and public sector organizations; and Securities Services, such as cross-border client support, local market expertise, post-trade technologies, data solutions and various securities service solutions.