Harvest Fund Management Co. Ltd Has $69,000 Stock Position in Citigroup Inc. (NYSE:C)

Harvest Fund Management Co. Ltd lowered its stake in Citigroup Inc. (NYSE:C) by 51.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,332 shares of the company’s stock after selling 1,423 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Citigroup were worth $69,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Northern Trust Corp lifted its stake in shares of Citigroup by 1.2% in the 3rd quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock valued at $824,710,000 after purchasing an additional 232,652 shares during the period. Pzena Investment Management LLC raised its stake in Citigroup by 3.0% during the 3rd quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock worth $683,886,000 after buying an additional 486,952 shares during the period. Greenhaven Associates Inc. raised its stake in Citigroup by 22.4% during the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after buying an additional 2,948,512 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Citigroup by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,751,201 shares of the company’s stock worth $565,587,000 after buying an additional 192,631 shares during the period. Finally, Sanders Capital LLC raised its stake in Citigroup by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 11,496,482 shares of the company’s stock worth $472,850,000 after buying an additional 30,501 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $61.78 on Friday. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.90. The stock’s 50 day moving average is $58.94 and its 200-day moving average is $51.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $118.33 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 0.94 and a beta of 1.52.

Citigroup (NYSE:C) last posted its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post 5.97 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is currently 62.72%.

Analyst Upgrades and Downgrades

Several analysts recently commented on C shares. Piper Sandler raised their price objective on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Oppenheimer dropped their price objective on Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Evercore ISI lifted their price target on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.91.

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.