Citigroup Inc. (NYSE:C) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lessened its stake in Citigroup Inc. (NYSE:C) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,284 shares of the company’s stock after selling 2,220 shares during the quarter. Raymond James Trust N.A.’s holdings in Citigroup were worth $3,889,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MONECO Advisors LLC increased its position in Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after acquiring an additional 157 shares during the period. Pinnacle Wealth Planning Services Inc. grew its position in Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after buying an additional 164 shares in the last quarter. NorthRock Partners LLC grew its position in Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares in the last quarter. Legacy Capital Group California Inc. raised its position in shares of Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after buying an additional 169 shares in the last quarter. Finally, Family Legacy Inc. raised its holdings in Citigroup by 2.9% during the first quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock worth $400,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 0.2 %

C traded up $0.13 on Monday, reaching $62.27. 521,603 shares of the company traded hands, compared to its average volume of 14,753,660. The stock’s 50 day moving average price is $62.38 and its 200-day moving average price is $60.76. The company has a market cap of $118.78 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.68 and a beta of 1.46. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.60%. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Argus increased their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Piper Sandler raised their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer boosted their target price on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Company 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.