Silvercrest Asset Management Group LLC Cuts Stock Holdings in Citigroup Inc. (NYSE:C)

Silvercrest Asset Management Group LLC reduced its stake in Citigroup Inc. (NYSE:C) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,479,231 shares of the company’s stock after selling 16,483 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.08% of Citigroup worth $104,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Core Alternative Capital boosted its position in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares during the period. Webster Bank N. A. grew its position in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup in the fourth quarter valued at approximately $35,000. Sierra Ocean LLC purchased a new stake in shares of Citigroup during the fourth quarter valued at approximately $37,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Citigroup in the fourth quarter worth approximately $39,000. 71.72% of the stock is currently owned by institutional investors.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now directly owns 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. TD Cowen assumed coverage on Citigroup in a research report on Thursday. They set a “hold” rating and a $83.00 price objective on the stock. Oppenheimer increased their target price on Citigroup from $91.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Finally, Morgan Stanley reduced their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.97.

Citigroup Price Performance

Shares of Citigroup stock opened at $75.87 on Friday. The company has a market capitalization of $141.70 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.64 and a beta of 1.30. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s 50-day simple moving average is $67.96 and its 200-day simple moving average is $71.80. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. As a group, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.95%. Citigroup’s payout ratio is 35.39%.

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.