Securian Asset Management Inc. Sells 2,214 Shares of Citigroup Inc. (NYSE:C)

Securian Asset Management Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 2.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 99,432 shares of the company’s stock after selling 2,214 shares during the period. Securian Asset Management Inc.’s holdings in Citigroup were worth $7,059,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in C. Zullo Investment Group Inc. raised its stake in shares of Citigroup by 4.2% in the first quarter. Zullo Investment Group Inc. now owns 5,309 shares of the company’s stock valued at $377,000 after acquiring an additional 214 shares during the period. Whitener Capital Management Inc. grew its holdings in Citigroup by 4.4% during the 1st quarter. Whitener Capital Management Inc. now owns 3,775 shares of the company’s stock valued at $268,000 after purchasing an additional 160 shares during the last quarter. Secured Retirement Advisors LLC raised its position in Citigroup by 308.6% in the 1st quarter. Secured Retirement Advisors LLC now owns 15,358 shares of the company’s stock worth $1,090,000 after purchasing an additional 11,599 shares during the period. CWM LLC raised its position in Citigroup by 32.6% in the 1st quarter. CWM LLC now owns 131,220 shares of the company’s stock worth $9,315,000 after purchasing an additional 32,272 shares during the period. Finally, TFR Capital LLC. lifted its stake in Citigroup by 145.6% in the first quarter. TFR Capital LLC. now owns 7,083 shares of the company’s stock worth $503,000 after purchasing an additional 4,199 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director owned 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on C shares. Bank of America upped their target price on Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Oppenheimer restated an “outperform” rating on shares of Citigroup in a report on Monday, July 7th. Piper Sandler restated an “overweight” rating and set a $77.00 price objective (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.89.

Citigroup Stock Performance

Shares of Citigroup stock opened at $86.73 on Monday. Citigroup Inc. has a one year low of $53.51 and a one year high of $88.83. The company has a market capitalization of $161.99 billion, a PE ratio of 13.70, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50-day simple moving average of $78.40 and a two-hundred day simple moving average of $74.80.

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

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.