AQR Capital Management LLC Sells 919,537 Shares of Citigroup Inc. (NYSE:C)

AQR Capital Management LLC decreased its stake in Citigroup Inc. (NYSE:C) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,855,265 shares of the company’s stock after selling 919,537 shares during the period. Citigroup comprises about 0.5% of AQR Capital Management LLC’s holdings, making the stock its 26th largest holding. AQR Capital Management LLC owned about 0.25% of Citigroup worth $302,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after purchasing an additional 17,525,484 shares during the period. Swedbank AB bought a new position in Citigroup during the first quarter worth $253,286,000. Acadian Asset Management LLC raised its stake in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares during the last quarter. Caxton Associates LP lifted its holdings in Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after buying an additional 1,988,494 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in Citigroup by 873.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock worth $135,262,000 after acquiring an additional 1,919,170 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 1.6 %

C stock opened at $60.39 on Thursday. The stock’s 50 day moving average is $60.98 and its 200-day moving average is $61.58. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market capitalization of $115.21 billion, a PE ratio of 16.92, a P/E/G ratio of 0.69 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 EPS. Sell-side analysts expect that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.71%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio is presently 62.75%.

Analysts Set New Price Targets

Several brokerages recently commented on C. Royal Bank of Canada upped their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Morgan Stanley raised their price objective on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler lifted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Argus increased their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Evercore ISI raised their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.25.

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.