Citigroup Inc. (NYSE:C) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC decreased its position in Citigroup Inc. (NYSE:C) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,522 shares of the company’s stock after selling 1,475 shares during the quarter. Carret Asset Management LLC’s holdings in Citigroup were worth $1,519,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Citigroup during the third quarter valued at $209,000. Simplicity Solutions LLC lifted its holdings in shares of Citigroup by 17.6% during the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after purchasing an additional 4,150 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Citigroup by 56.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after purchasing an additional 449,310 shares during the last quarter. GFS Advisors LLC purchased a new stake in shares of Citigroup during the fourth quarter valued at $2,003,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Citigroup by 9.1% during the fourth quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock valued at $13,279,000 after purchasing an additional 21,440 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

C stock traded down $0.93 during midday trading on Thursday, reaching $61.54. 4,928,930 shares of the company’s stock traded hands, compared to its average volume of 16,934,154. The company has a 50-day simple moving average of $58.81 and a two-hundred day simple moving average of $51.70. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90. The company has a market cap of $117.87 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 0.94 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released 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. The company had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.86 EPS. On average, analysts anticipate that Citigroup Inc. will post 5.97 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.44%. Citigroup’s dividend payout ratio (DPR) is currently 62.72%.

Analysts Set New Price Targets

Several brokerages recently issued reports on C. Wolfe Research raised Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, January 3rd. BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price objective for the company. in a research note on Wednesday, January 10th. Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. HSBC upped their target price on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Evercore ISI upped their target price on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.