Cim Investment Management Inc. Grows Holdings in Citigroup Inc. (NYSE:C)

Cim Investment Management Inc. raised its position in Citigroup Inc. (NYSE:C) by 191.6% during the second quarter, Holdings Channel.com reports. The firm owned 22,089 shares of the company’s stock after buying an additional 14,515 shares during the period. Citigroup accounts for about 0.5% of Cim Investment Management Inc.’s holdings, making the stock its 27th largest holding. Cim Investment Management Inc.’s holdings in Citigroup were worth $1,563,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Factorial Partners LLC increased its stake in shares of Citigroup by 7,127.8% during the 1st quarter. Factorial Partners LLC now owns 5,565,375 shares of the company’s stock valued at $76,500,000 after acquiring an additional 5,488,375 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Citigroup by 35.6% during the 2nd quarter. Franklin Resources Inc. now owns 18,657,519 shares of the company’s stock valued at $1,320,019,000 after acquiring an additional 4,896,247 shares during the last quarter. Morgan Stanley increased its stake in shares of Citigroup by 21.6% during the 1st quarter. Morgan Stanley now owns 23,410,089 shares of the company’s stock valued at $1,703,086,000 after acquiring an additional 4,162,277 shares during the last quarter. Duquesne Family Office LLC acquired a new position in shares of Citigroup during the 1st quarter valued at about $154,587,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Citigroup by 97.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,061,315 shares of the company’s stock valued at $287,338,000 after acquiring an additional 2,001,150 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

A number of research firms have recently commented on C. Piper Sandler dropped their price objective on shares of Citigroup from $95.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, July 15th. Credit Suisse Group dropped their target price on shares of Citigroup from $83.00 to $82.00 and set an “outperform” rating for the company in a research report on Monday, July 19th. Keefe, Bruyette & Woods initiated coverage on shares of Citigroup in a research report on Wednesday, July 7th. They set an “outperform” rating and a $85.00 target price for the company. Morgan Stanley increased their target price on shares of Citigroup from $89.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, July 29th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $73.00 target price on shares of Citigroup in a research report on Wednesday, July 7th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Buy” and an average price target of $78.97.

C traded up $0.10 during trading hours on Thursday, hitting $70.36. 1,067,143 shares of the stock were exchanged, compared to its average volume of 19,598,801. The stock has a 50-day simple moving average of $71.14 and a 200-day simple moving average of $71.96. Citigroup Inc. has a 12 month low of $40.49 and a 12 month high of $80.29. The stock has a market cap of $142.60 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 0.87 and a beta of 1.91. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.94 and a quick ratio of 0.94.

Citigroup (NYSE:C) last announced its quarterly earnings data on Thursday, October 14th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.36. Citigroup had a return on equity of 12.10% and a net margin of 27.21%. The firm had revenue of $17.15 billion for the quarter, compared to analysts’ expectations of $16.93 billion. During the same period last year, the business posted $1.40 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts expect that Citigroup Inc. will post 9.97 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Monday, August 2nd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, July 30th. Citigroup’s payout ratio is currently 41.80%.

Citigroup Profile

Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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