L & S Advisors Inc Decreases Position in Citigroup Inc. (NYSE:C)

L & S Advisors Inc lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 29.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,108 shares of the company’s stock after selling 26,558 shares during the period. L & S Advisors Inc’s holdings in Citigroup were worth $4,480,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in C. Brighton Jones LLC grew its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares during the last quarter. World Investment Advisors grew its holdings in shares of Citigroup by 24.1% during the fourth quarter. World Investment Advisors now owns 26,706 shares of the company’s stock valued at $1,880,000 after buying an additional 5,179 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new stake in shares of Citigroup during the fourth quarter valued at $415,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Citigroup during the fourth quarter valued at $44,659,000. Finally, Cullen Capital Management LLC raised its holdings in shares of Citigroup by 33.8% during the fourth quarter. Cullen Capital Management LLC now owns 2,963,825 shares of the company’s stock worth $208,624,000 after purchasing an additional 747,974 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of several recent research reports. Cowen initiated coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a “hold” rating for the company. Oppenheimer increased their price target on shares of Citigroup from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Wednesday. Dbs Bank raised shares of Citigroup from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Truist Financial increased their price target on shares of Citigroup from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Piper Sandler increased their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. 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, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $96.54.

Insider Activity at Citigroup

In other 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 transaction of $271,200.00. Following the sale, the director owned 2,140 shares of the company’s stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Price Performance

NYSE:C opened at $91.84 on Friday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $171.53 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.79 and a beta of 1.38. The stock’s fifty day moving average is $84.36 and its two-hundred day moving average is $76.97.

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

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a dividend of $0.60 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 4th. Citigroup’s dividend payout ratio (DPR) is 33.09%.

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.