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

Federated Hermes Inc. reduced its position in shares of Citigroup Inc. (NYSE:C) 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. Federated Hermes Inc.’s holdings in Citigroup were worth $29,563,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings 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 purchasing an additional 17,525,484 shares in 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 increased 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 buying an additional 1,836,283 shares in the last quarter. Putnam Investments LLC lifted its position in shares of Citigroup by 7.9% during 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 during the last quarter. Finally, Norges Bank bought a new stake in shares of Citigroup during the 4th quarter worth $867,599,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Evercore ISI boosted 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 upped 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 raised 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 boosted their price target 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, June 17th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

Citigroup Stock Performance

Shares of C stock opened at $57.67 on Friday. Citigroup Inc. 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) last released 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 firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 earnings per share. Analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases 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 a $2.24 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is presently 62.75%.

About Citigroup

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.