Citigroup Inc. (NYSE:C) Position Lessened by BOS Asset Management LLC

BOS Asset Management LLC trimmed its position in shares of Citigroup Inc. (NYSE:C) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,914 shares of the company’s stock after selling 281 shares during the period. BOS Asset Management LLC’s holdings in Citigroup were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Adero Partners LLC bought a new position in Citigroup during the second quarter valued at about $210,000. Forum Financial Management LP grew its position in shares of Citigroup by 3.5% in the second quarter. Forum Financial Management LP now owns 26,494 shares of the company’s stock valued at $1,681,000 after purchasing an additional 895 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Citigroup by 3.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 221,041 shares of the company’s stock valued at $14,027,000 after purchasing an additional 7,035 shares during the last quarter. Key Financial Inc grew its position in shares of Citigroup by 5.2% in the second quarter. Key Financial Inc now owns 3,693 shares of the company’s stock valued at $234,000 after purchasing an additional 182 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Citigroup in the second quarter valued at about $226,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C opened at $62.64 on Friday. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The firm has a 50 day moving average of $62.53 and a 200-day moving average of $60.98. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $119.48 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.58%. The ex-dividend date was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is 62.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Oppenheimer raised their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley raised their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Argus raised their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Piper Sandler lifted their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. 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 support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.