Citigroup Inc. (NYSE:C – Get Free Report) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 37,750,000 shares, an increase of 29.6% from the July 31st total of 29,130,000 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily volume of 13,210,000 shares, the short-interest ratio is presently 2.9 days.
Hedge Funds Weigh In On Citigroup
A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after purchasing an additional 250,716 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after purchasing an additional 1,836,283 shares in the last quarter. Putnam Investments LLC boosted its holdings in Citigroup by 7.9% during the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after buying an additional 1,300,520 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after buying an additional 913,231 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
Citigroup Stock Up 1.2 %
C stock traded up $0.76 during trading on Friday, reaching $62.64. 10,806,580 shares of the company traded hands, compared to its average volume of 13,422,590. The company has a market capitalization of $119.48 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day simple moving average of $62.53 and a 200 day simple moving average of $61.04. Citigroup has a 12 month low of $38.17 and a 12 month high of $67.81.
Citigroup Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.58%. Citigroup’s dividend payout ratio is currently 62.75%.
Analyst Upgrades and Downgrades
C has been the topic of several research reports. Royal Bank of Canada lifted their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Oppenheimer increased their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Piper Sandler upped their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Evercore ISI raised their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Finally, BMO Capital Markets increased their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $68.06.
View Our Latest Stock Report on Citigroup
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.
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