AQR Capital Management LLC Sells 1,087,046 Shares of Citigroup Inc. $C

AQR Capital Management LLC decreased its stake in shares of Citigroup Inc. (NYSE:C) by 16.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,534,254 shares of the company’s stock after selling 1,087,046 shares during the quarter. AQR Capital Management LLC owned about 0.30% of Citigroup worth $471,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC raised its holdings in Citigroup by 3.6% during the second quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock worth $265,000 after buying an additional 109 shares during the last quarter. Fullcircle Wealth LLC boosted its stake in shares of Citigroup by 0.9% in the 2nd quarter. Fullcircle Wealth LLC now owns 13,097 shares of the company’s stock worth $1,206,000 after buying an additional 111 shares during the last quarter. Secure Asset Management LLC grew its holdings in shares of Citigroup by 3.7% in the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock valued at $280,000 after acquiring an additional 118 shares in the last quarter. Golden State Equity Partners increased its position in shares of Citigroup by 0.6% during the second quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock valued at $1,842,000 after acquiring an additional 122 shares during the last quarter. Finally, Altman Advisors Inc. increased its position in shares of Citigroup by 0.4% during the second quarter. Altman Advisors Inc. now owns 30,979 shares of the company’s stock valued at $2,673,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on C. UBS Group reiterated a “neutral” rating and set a $108.00 target price on shares of Citigroup in a research note on Monday, November 24th. JPMorgan Chase & Co. raised shares of Citigroup from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $107.00 to $124.00 in a research report on Friday. Truist Financial increased their target price on shares of Citigroup from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley lifted their price target on shares of Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Cowen reiterated a “hold” rating on shares of Citigroup in a research note on Wednesday. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.47.

Citigroup Trading Up 0.1%

NYSE C opened at $111.82 on Friday. The company has a market capitalization of $200.07 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 0.55 and a beta of 1.21. The stock’s 50-day simple moving average is $101.21 and its two-hundred day simple moving average is $94.26. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $113.43. 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 (NYSE:C) last issued its earnings results on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $1.89 by $0.35. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The company had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. Citigroup’s dividend payout ratio (DPR) is presently 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.