Granite Investment Partners LLC Grows Position in Citigroup Inc. $C

Granite Investment Partners LLC lifted its position in shares of Citigroup Inc. (NYSE:C) by 19.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,186 shares of the company’s stock after purchasing an additional 6,018 shares during the quarter. Granite Investment Partners LLC’s holdings in Citigroup were worth $3,165,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Citigroup by 0.7% during the second quarter. Vanguard Group Inc. now owns 165,851,890 shares of the company’s stock worth $14,117,313,000 after buying an additional 1,148,451 shares during the period. Geode Capital Management LLC raised its stake in shares of Citigroup by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 42,957,190 shares of the company’s stock valued at $3,645,084,000 after acquiring an additional 411,894 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after acquiring an additional 2,539,769 shares in the last quarter. Franklin Resources Inc. boosted its position in Citigroup by 2.2% during the 2nd quarter. Franklin Resources Inc. now owns 32,290,532 shares of the company’s stock worth $2,748,571,000 after purchasing an additional 679,967 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Citigroup by 3.2% in the 2nd quarter. Fisher Asset Management LLC now owns 32,161,457 shares of the company’s stock valued at $2,737,583,000 after purchasing an additional 988,152 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on C. Oppenheimer decreased their target price on Citigroup from $123.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Cowen restated a “hold” rating and issued a $110.00 price target on shares of Citigroup in a report on Wednesday, October 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Morgan Stanley upped their target price on shares of Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Truist Financial raised their price target on shares of Citigroup from $105.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.70.

Citigroup Stock Performance

Shares of C stock opened at $103.18 on Wednesday. The company has a market cap of $184.61 billion, a P/E ratio of 14.49, a PEG ratio of 0.51 and a beta of 1.21. The business has a 50 day moving average of $99.78 and a two-hundred day moving average of $92.54. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. During the same period last year, the business posted $1.51 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, November 3rd. Citigroup’s dividend payout ratio is 33.71%.

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.