Citigroup Inc (NYSE:C) Stock Holdings Increased by State of Michigan Retirement System

State of Michigan Retirement System boosted its position in Citigroup Inc (NYSE:C) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 531,714 shares of the financial services provider’s stock after buying an additional 31,258 shares during the quarter. State of Michigan Retirement System’s holdings in Citigroup were worth $27,171,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in C. Macquarie Group Ltd. increased its holdings in Citigroup by 3.9% in the fourth quarter. Macquarie Group Ltd. now owns 375,373 shares of the financial services provider’s stock valued at $29,989,000 after buying an additional 14,129 shares during the last quarter. Fulton Bank N.A. increased its holdings in Citigroup by 3.1% in the first quarter. Fulton Bank N.A. now owns 20,125 shares of the financial services provider’s stock valued at $848,000 after buying an additional 606 shares during the last quarter. Nexus Investment Management Inc. increased its holdings in Citigroup by 12.1% in the first quarter. Nexus Investment Management Inc. now owns 446,610 shares of the financial services provider’s stock valued at $18,811,000 after buying an additional 48,250 shares during the last quarter. Triangle Securities Wealth Management increased its holdings in Citigroup by 5.2% in the first quarter. Triangle Securities Wealth Management now owns 31,995 shares of the financial services provider’s stock valued at $1,348,000 after buying an additional 1,588 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Citigroup by 5.3% during the first 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 purchasing an additional 20,898 shares during the last quarter. 77.29% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the company. Bank of America upped their target price on Citigroup from $73.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 10th. Standpoint Research lowered Citigroup from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. UBS Group upped their target price on Citigroup from $50.00 to $64.00 and gave the company a “buy” rating in a report on Monday, May 4th. Royal Bank of Canada reaffirmed a “buy” rating and set a $58.00 target price on shares of Citigroup in a report on Friday, July 3rd. Finally, BMO Capital Markets upped their target price on Citigroup from $82.00 to $87.00 in a report on Wednesday, July 15th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Citigroup has a consensus rating of “Buy” and an average price target of $74.03.

C traded down $0.35 during trading on Friday, reaching $50.01. The stock had a trading volume of 22,488,389 shares, compared to its average volume of 20,471,188. The firm has a market capitalization of $105.90 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.82. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. Citigroup Inc has a 1-year low of $32.00 and a 1-year high of $83.11. The stock has a 50 day moving average of $51.41 and a two-hundred day moving average of $55.63.

Citigroup (NYSE:C) last released its earnings results 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. The firm had revenue of $19.77 billion during the quarter, compared to the consensus estimate of $19.06 billion. Citigroup had a return on equity of 7.40% and a net margin of 13.64%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 earnings per share. On average, research analysts forecast that Citigroup Inc will post 3.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.04 dividend on an annualized basis and a yield of 4.08%. Citigroup’s dividend payout ratio (DPR) is 26.91%.

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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