Citigroup Inc. (NYSE:C) Holdings Lessened by Foundry Partners LLC

Foundry Partners LLC reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 28.3% in the first quarter, Holdings Channel reports. The institutional investor owned 475,688 shares of the company’s stock after selling 187,418 shares during the period. Citigroup comprises about 1.8% of Foundry Partners LLC’s portfolio, making the stock its 4th biggest holding. Foundry Partners LLC’s holdings in Citigroup were worth $33,769,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Allegiance Financial Group Advisory Services LLC purchased a new stake in Citigroup in the 1st quarter worth approximately $268,000. Nwam LLC boosted its stake in shares of Citigroup by 25.4% in the first quarter. Nwam LLC now owns 7,678 shares of the company’s stock worth $545,000 after acquiring an additional 1,556 shares during the period. FLC Capital Advisors purchased a new stake in shares of Citigroup during the first quarter worth about $211,000. Archer Investment Corp raised its stake in Citigroup by 1,375.0% during the 1st quarter. Archer Investment Corp now owns 7,832 shares of the company’s stock valued at $556,000 after purchasing an additional 7,301 shares during the period. Finally, Jennison Associates LLC raised its stake in Citigroup by 0.9% during the 1st quarter. Jennison Associates LLC now owns 24,204 shares of the company’s stock valued at $1,718,000 after purchasing an additional 219 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company’s stock, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director directly owned 13,048 shares of the company’s stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Citigroup Trading Up 0.4%

NYSE C opened at $93.44 on Friday. Citigroup Inc. has a one year low of $53.51 and a one year high of $93.80. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The company has a market capitalization of $174.52 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. The company’s 50-day simple moving average is $80.43 and its two-hundred day simple moving average is $75.45.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. Equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.57%. This is an increase from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio is 33.09%.

Analysts Set New Price Targets

A number of research firms recently issued reports on C. Truist Financial upped their price target on shares of Citigroup from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods restated a “buy” rating on shares of Citigroup in a research report on Wednesday. The Goldman Sachs Group raised their price objective on Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Barclays boosted their target price on Citigroup from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.46.

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.