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

Sierra Summit Advisors LLC trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 22.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,080 shares of the company’s stock after selling 1,180 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Citigroup were worth $259,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MONECO Advisors LLC raised its holdings in shares of Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after acquiring an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after purchasing an additional 164 shares in the last quarter. NorthRock Partners LLC raised its stake 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 purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. lifted its holdings in Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after purchasing an additional 169 shares in the last quarter. Finally, Gries Financial LLC boosted its stake in shares of Citigroup by 3.0% during the 2nd quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE C opened at $58.39 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The company has a market capitalization of $111.38 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 0.62 and a beta of 1.45. The business has a 50-day moving average of $61.68 and a 200-day moving average of $61.40.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping 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 return on equity of 6.26% and a net margin of 4.95%. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 EPS. On average, equities analysts anticipate that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.84%. Citigroup’s payout ratio is 62.75%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Argus boosted their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Piper Sandler raised their price objective on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Morgan Stanley lifted their price objective on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI increased their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

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.