Fourpath Capital Management LLC Lowers Position in Citigroup Inc. (NYSE:C)

Fourpath Capital Management LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 16.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,904 shares of the company’s stock after selling 554 shares during the period. Fourpath Capital Management LLC’s holdings in Citigroup were worth $206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in C. True Wealth Design LLC raised its position in Citigroup by 11.1% during the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $84,000 after purchasing an additional 119 shares in the last quarter. Continuum Advisory LLC raised its position in Citigroup by 1.9% during the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock valued at $459,000 after purchasing an additional 120 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC raised its position in Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after purchasing an additional 135 shares in the last quarter. Hemington Wealth Management raised its position in Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Citigroup by 3.4% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America lowered their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler restated an “overweight” rating and set a $77.00 price target (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Truist Financial reduced their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group raised their price objective on Citigroup from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Cowen began coverage on Citigroup in a research note on Wednesday, May 14th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $84.30.

Citigroup Stock Performance

Citigroup stock opened at $78.07 on Wednesday. The stock’s 50 day simple moving average is $69.85 and its two-hundred day simple moving average is $72.87. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $145.81 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. 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 was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.87%. Citigroup’s payout ratio is 35.39%.

Citigroup Company 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.