Citigroup Inc. (NYSE:C) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in Citigroup Inc. (NYSE:C) by 41.6% during the first quarter, Holdings Channel reports. The firm owned 155,557 shares of the company’s stock after selling 110,980 shares during the period. Pacer Advisors Inc.’s holdings in Citigroup were worth $11,043,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in Citigroup in the 4th quarter worth $28,000. MorganRosel Wealth Management LLC bought a new position in Citigroup in the first quarter worth about $28,000. American National Bank & Trust acquired a new position in Citigroup during the 1st quarter valued at approximately $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at $34,000. Finally, Cornerstone Planning Group LLC boosted its stake in Citigroup by 68.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 577 shares of the company’s stock valued at $38,000 after purchasing an additional 234 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of NYSE C opened at $96.04 on Monday. The company has a market cap of $179.37 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.83 and a beta of 1.34. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $96.90. The business’s 50 day moving average is $82.36 and its two-hundred day moving average is $76.29. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. On average, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. Citigroup’s dividend payout ratio is 33.09%.

Analyst Upgrades and Downgrades

C has been the subject of several recent analyst reports. Bank of America increased their price target on Citigroup from $89.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $104.00 target price (up previously from $84.00) on shares of Citigroup in a research report on Wednesday, July 16th. Truist Financial boosted their price objective on shares of Citigroup from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Dbs Bank raised Citigroup from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.46.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business’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 owned 2,140 shares of the company’s stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of the 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 sale, the director owned 13,048 shares in the company, valued at $890,656.48. The trade was 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.

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.