California Public Employees Retirement System Sells 875,720 Shares of Citigroup Inc. (NYSE:C)

California Public Employees Retirement System lessened its stake in Citigroup Inc. (NYSE:C) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,734,304 shares of the company’s stock after selling 875,720 shares during the quarter. California Public Employees Retirement System’s holdings in Citigroup were worth $243,533,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its stake in Citigroup by 7.9% in the third quarter. Global Retirement Partners LLC now owns 10,488 shares of the company’s stock valued at $418,000 after buying an additional 764 shares during the period. Summit Global Investments boosted its position in shares of Citigroup by 18.3% during the 3rd quarter. Summit Global Investments now owns 12,527 shares of the company’s stock valued at $515,000 after acquiring an additional 1,937 shares during the last quarter. RFG Advisory LLC boosted its position in shares of Citigroup by 13.5% during the 3rd quarter. RFG Advisory LLC now owns 10,242 shares of the company’s stock valued at $421,000 after acquiring an additional 1,219 shares during the last quarter. Impact Partnership Wealth LLC raised its holdings in shares of Citigroup by 698.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 3,363 shares of the company’s stock valued at $138,000 after buying an additional 2,942 shares in the last quarter. Finally, 1900 Wealth Management LLC raised its holdings in shares of Citigroup by 83.5% during the 3rd quarter. 1900 Wealth Management LLC now owns 11,070 shares of the company’s stock valued at $455,000 after buying an additional 5,037 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C traded up $1.17 during mid-day trading on Tuesday, reaching $62.12. 3,640,335 shares of the company’s stock were exchanged, compared to its average volume of 16,996,383. The business’s fifty day simple moving average is $58.44 and its 200-day simple moving average is $51.47. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $118.98 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.52.

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. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same period last year, the firm posted $1.86 EPS. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts expect that Citigroup Inc. will post 5.97 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.41%. Citigroup’s dividend payout ratio (DPR) is 62.72%.

Analyst Upgrades and Downgrades

C has been the topic of a number of recent analyst reports. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research report on Wednesday, January 3rd. Piper Sandler upped their price objective on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Societe Generale downgraded Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.91.

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.