Citigroup Inc. (NYSE:C) Shares Sold by Nwam LLC

Nwam LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 23.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,681 shares of the company’s stock after selling 1,420 shares during the period. Nwam LLC’s holdings in Citigroup were worth $292,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Glaxis Capital Management LLC acquired a new stake in shares of Citigroup in the first quarter valued at about $506,000. Banco BTG Pactual S.A. raised its position in shares of Citigroup by 112.8% in the first quarter. Banco BTG Pactual S.A. now owns 82,600 shares of the company’s stock valued at $5,179,000 after buying an additional 726,100 shares during the last quarter. ProVise Management Group LLC raised its position in shares of Citigroup by 3.7% in the first quarter. ProVise Management Group LLC now owns 171,366 shares of the company’s stock valued at $10,837,000 after buying an additional 6,129 shares during the last quarter. Blair William & Co. IL raised its position in shares of Citigroup by 0.7% in the first quarter. Blair William & Co. IL now owns 146,149 shares of the company’s stock valued at $9,242,000 after buying an additional 1,074 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Citigroup in the first quarter valued at about $18,302,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Up 0.4 %

Shares of C traded up $0.25 during trading on Friday, reaching $65.14. 8,583,112 shares of the company traded hands, compared to its average volume of 14,301,064. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The stock has a market cap of $124.25 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46. The stock has a 50-day simple moving average of $63.00 and a 200-day simple moving average of $59.40. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 earnings per share. On average, analysts anticipate that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.44%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is 59.38%.

Analysts Set New Price Targets

A number of brokerages have recently commented on C. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 target price on shares of Citigroup in a research report on Monday, April 1st. BMO Capital Markets raised their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group raised their price objective on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Royal Bank of Canada raised their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Piper Sandler raised their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $67.25.

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.