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

PSI Advisors LLC lowered its position in Citigroup Inc. (NYSE:C) by 10.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,807 shares of the company’s stock after selling 2,303 shares during the quarter. PSI Advisors LLC’s holdings in Citigroup were worth $1,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kentucky Retirement Systems grew its holdings in shares of Citigroup by 2.6% during the fourth quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock worth $7,877,000 after buying an additional 3,808 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Citigroup by 21.8% in the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock valued at $49,776,000 after purchasing an additional 173,137 shares during the last quarter. Lloyd Advisory Services LLC. increased its holdings in shares of Citigroup by 355.9% in the first quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after purchasing an additional 14,922 shares during the period. Natixis Advisors L.P. raised its stake in shares of Citigroup by 46.3% during the fourth quarter. Natixis Advisors L.P. now owns 1,481,614 shares of the company’s stock worth $76,213,000 after purchasing an additional 469,142 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after purchasing an additional 8,593 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C traded down $0.11 during mid-day trading on Thursday, hitting $60.42. 7,817,535 shares of the company’s stock traded hands, compared to its average volume of 14,850,451. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94. The company has a market cap of $115.25 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. The firm’s 50 day simple moving average is $62.32 and its 200 day simple moving average is $60.66. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81.

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

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, August 5th. Citigroup’s payout ratio is 62.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Argus upped their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Morgan Stanley raised their price objective on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler lifted their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets raised their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods upped 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 investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.06.

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.