Simmons Bank Decreases Position in Citigroup Inc. (NYSE:C)

Simmons Bank lowered its position in shares of Citigroup Inc. (NYSE:C) by 36.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,336 shares of the company’s stock after selling 5,452 shares during the quarter. Simmons Bank’s holdings in Citigroup were worth $480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in C. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Citigroup in the 3rd quarter valued at about $209,000. Simplicity Solutions LLC lifted its position in Citigroup by 17.6% in the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after buying an additional 4,150 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Citigroup by 56.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock worth $64,078,000 after buying an additional 449,310 shares during the period. GFS Advisors LLC acquired a new stake in shares of Citigroup during the fourth quarter valued at about $2,003,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Citigroup by 9.1% in the 4th quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after acquiring an additional 21,440 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock traded up $0.87 during trading on Wednesday, reaching $62.87. The company’s stock had a trading volume of 6,757,912 shares, compared to its average volume of 16,501,340. The firm has a market cap of $120.41 billion, a PE ratio of 18.57, a P/E/G ratio of 0.92 and a beta of 1.49. The company has a 50-day moving average price of $59.98 and a two-hundred day moving average price of $53.10. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.86 EPS. On average, analysts forecast that Citigroup Inc. will post 5.98 EPS for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.37%. Citigroup’s payout ratio is currently 62.72%.

Analyst Ratings Changes

A number of analysts have issued reports on C shares. HSBC boosted their target price on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Evercore ISI lifted their price objective on shares of Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Wells Fargo & Company reiterated an “overweight” rating and set a $80.00 target price on shares of Citigroup in a report on Monday, April 1st. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price for the company. in a report on Wednesday, January 10th. One 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. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $62.85.

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.