Texas Permanent School Fund Corp Decreases Stake in Citigroup Inc. (NYSE:C)

Texas Permanent School Fund Corp decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 19.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,171 shares of the company’s stock after selling 77,129 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Citigroup were worth $20,064,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in shares of Citigroup by 123.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after acquiring an additional 17,525,484 shares during the last quarter. Norges Bank purchased a new position in Citigroup during the fourth quarter worth about $867,599,000. Bank of New York Mellon Corp boosted its holdings in Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after purchasing an additional 4,620,867 shares during the last quarter. Swedbank AB acquired a new stake in shares of Citigroup during the 1st quarter worth approximately $253,286,000. Finally, Acadian Asset Management LLC raised its position in shares of Citigroup by 527.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after buying an additional 2,100,135 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on C. Oppenheimer increased their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Argus increased their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI boosted their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada increased their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Piper Sandler boosted their target price on Citigroup from $70.00 to $73.00 and gave the company 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.06.

Citigroup Stock Up 1.8 %

NYSE C traded up $1.09 during trading hours on Monday, hitting $60.18. 1,737,221 shares of the company were exchanged, compared to its average volume of 14,512,574. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The firm has a market cap of $114.81 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.64 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a 50 day moving average of $62.44 and a two-hundred day moving average of $61.29.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate 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 business posted $1.37 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio is currently 62.75%.

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.