Harvest Fund Management Co. Ltd Decreases Stake in Citigroup Inc. (NYSE:C)

Harvest Fund Management Co. Ltd reduced its stake in shares of Citigroup Inc. (NYSE:C) by 51.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,332 shares of the company’s stock after selling 1,423 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Citigroup were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Carmel Capital Partners LLC acquired a new position in Citigroup in the 3rd quarter valued at about $25,000. Rakuten Securities Inc. acquired a new position in Citigroup in the 4th quarter valued at about $35,000. GHP Investment Advisors Inc. raised its stake in Citigroup by 73.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock valued at $28,000 after purchasing an additional 290 shares during the last quarter. AlphaMark Advisors LLC raised its stake in Citigroup by 75.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in Citigroup in the 4th quarter valued at about $39,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on C shares. Piper Sandler increased their target price on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Societe Generale cut Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Finally, Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.91.

Citigroup Trading Down 1.1 %

Shares of C stock opened at $61.78 on Friday. The firm’s 50 day moving average price is $58.94 and its two-hundred day moving average price is $51.77. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The stock has a market cap of $118.33 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 0.94 and a beta of 1.52.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. During the same quarter in the prior year, the firm earned $1.86 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that Citigroup Inc. will post 5.97 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.53 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.43%. Citigroup’s payout ratio is currently 62.72%.

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.