Fairholme Capital Management LLC Has $7.81 Million Stake in Citigroup Inc. (NYSE:C)

Fairholme Capital Management LLC grew its stake in shares of Citigroup Inc. (NYSE:CGet Rating) by 631.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 146,200 shares of the company’s stock after acquiring an additional 126,200 shares during the period. Citigroup comprises approximately 0.5% of Fairholme Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Fairholme Capital Management LLC’s holdings in Citigroup were worth $7,807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Power Corp of Canada bought a new stake in shares of Citigroup during the first quarter valued at approximately $59,000. Captrust Financial Advisors raised its stake in shares of Citigroup by 16.2% during the first quarter. Captrust Financial Advisors now owns 928,055 shares of the company’s stock valued at $49,558,000 after acquiring an additional 129,613 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Citigroup by 4.1% during the first quarter. Wetherby Asset Management Inc. now owns 39,885 shares of the company’s stock valued at $2,130,000 after acquiring an additional 1,579 shares in the last quarter. State Street Corp raised its stake in shares of Citigroup by 1.4% during the first quarter. State Street Corp now owns 93,306,092 shares of the company’s stock valued at $4,982,545,000 after acquiring an additional 1,244,093 shares in the last quarter. Finally, Poehling Capital Management INC. increased its holdings in Citigroup by 1.0% during the first quarter. Poehling Capital Management INC. now owns 61,254 shares of the company’s stock valued at $3,271,000 after buying an additional 616 shares during the period. Institutional investors own 71.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. TheStreet lowered shares of Citigroup from a “b-” rating to a “c+” rating in a report on Tuesday, June 21st. Morgan Stanley cut their price objective on shares of Citigroup from $57.00 to $46.00 and set an “underweight” rating on the stock in a report on Tuesday, July 12th. Wells Fargo & Company cut their price objective on shares of Citigroup from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Piper Sandler cut their price objective on shares of Citigroup from $70.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Finally, Oppenheimer lifted their price objective on shares of Citigroup from $81.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.31.

Citigroup Trading Up 0.4 %

NYSE:C opened at $50.87 on Tuesday. Citigroup Inc. has a 12 month low of $43.44 and a 12 month high of $73.72. The firm has a fifty day simple moving average of $50.50 and a 200-day simple moving average of $51.28. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $98.52 billion, a P/E ratio of 6.51, a PEG ratio of 0.61 and a beta of 1.60.

Citigroup (NYSE:CGet Rating) last posted its quarterly earnings data on Friday, July 15th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $1.67 by $0.63. Citigroup had a net margin of 20.06% and a return on equity of 10.25%. The business had revenue of $19.64 billion during the quarter, compared to the consensus estimate of $18.32 billion. During the same period in the previous year, the firm posted $2.84 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Citigroup Inc. will post 7.37 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 1st were paid a dividend of $0.51 per share. The ex-dividend date was Friday, July 29th. This represents a $2.04 annualized dividend and a dividend yield of 4.01%. Citigroup’s payout ratio is currently 26.09%.

Citigroup Company Profile

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Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

Further Reading

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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