Oppenheimer Asset Management Inc. Cuts Holdings in Citigroup Inc. (NYSE:C)

Oppenheimer Asset Management Inc. decreased its stake in shares of Citigroup Inc. (NYSE:C) by 13.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,188,335 shares of the company’s stock after selling 185,969 shares during the quarter. Citigroup makes up 1.0% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Oppenheimer Asset Management Inc. owned approximately 0.06% of Citigroup worth $84,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in shares of Citigroup in the 4th quarter valued at about $28,000. American National Bank & Trust purchased a new position in shares of Citigroup in the 1st quarter valued at about $29,000. Mascagni Wealth Management Inc. purchased a new position in shares of Citigroup in the 4th quarter valued at about $34,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at about $39,000. Finally, Whipplewood Advisors LLC boosted its position in shares of Citigroup by 79.2% in the 1st quarter. Whipplewood Advisors LLC now owns 570 shares of the company’s stock valued at $40,000 after purchasing an additional 252 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $78.39 on Monday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The stock has a market cap of $146.41 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. The business has a fifty day moving average of $72.60 and a 200-day moving average of $73.28. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. As a group, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Monday, May 5th. Citigroup’s dividend payout ratio is presently 35.39%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cowen assumed coverage on Citigroup in a research report on Wednesday, May 14th. They issued a “hold” rating for the company. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a research report on Sunday, June 1st. Piper Sandler reissued an “overweight” rating and issued a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 target price (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Morgan Stanley decreased their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.30.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now owns 13,048 shares of the company’s stock, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by company insiders.

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.