Donald Smith & CO. Inc. Sells 31,624 Shares of Citigroup Inc. $C

Donald Smith & CO. Inc. trimmed its position in shares of Citigroup Inc. (NYSE:C) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,164,789 shares of the company’s stock after selling 31,624 shares during the quarter. Citigroup makes up about 2.3% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 21st biggest position. Donald Smith & CO. Inc. owned 0.06% of Citigroup worth $99,147,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of C. Morton Community Bank boosted its stake in Citigroup by 6.3% during the 2nd quarter. Morton Community Bank now owns 46,164 shares of the company’s stock worth $3,929,000 after acquiring an additional 2,725 shares during the last quarter. Avestar Capital LLC increased its holdings in shares of Citigroup by 10.0% in the second quarter. Avestar Capital LLC now owns 15,246 shares of the company’s stock worth $1,298,000 after acquiring an additional 1,384 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of Citigroup during the second quarter worth about $243,000. SageView Advisory Group LLC lifted its holdings in shares of Citigroup by 6.3% during the 2nd quarter. SageView Advisory Group LLC now owns 10,175 shares of the company’s stock valued at $866,000 after purchasing an additional 604 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Citigroup by 3.0% in the 2nd quarter. Cresset Asset Management LLC now owns 34,826 shares of the company’s stock valued at $2,965,000 after purchasing an additional 1,014 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.1%

C stock opened at $108.95 on Friday. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $109.37. The business has a 50-day simple moving average of $100.11 and a 200 day simple moving average of $93.10. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The company has a market cap of $194.94 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.54 and a beta of 1.21.

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

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were given a dividend of $0.60 per share. The ex-dividend date was Monday, November 3rd. This represents a $2.40 annualized dividend and a yield of 2.2%. Citigroup’s dividend payout ratio (DPR) is currently 33.71%.

Analysts Set New Price Targets

C has been the topic of several research reports. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. UBS Group restated a “neutral” rating and issued a $108.00 price objective on shares of Citigroup in a report on Monday, November 24th. Dbs Bank downgraded shares of Citigroup from a “moderate buy” rating to a “hold” rating in a research report on Monday, September 22nd. Cowen reiterated a “hold” rating and set a $110.00 target price on shares of Citigroup in a research note on Wednesday, October 15th. Finally, Piper Sandler increased their price target on shares of Citigroup from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $108.70.

Citigroup Profile

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.