Levin Capital Strategies L.P. Sells 44,230 Shares of Citigroup Inc. (NYSE:C)

Levin Capital Strategies L.P. lowered its stake in Citigroup Inc. (NYSE:C) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 461,342 shares of the company’s stock after selling 44,230 shares during the quarter. Citigroup makes up approximately 3.5% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 6th largest position. Levin Capital Strategies L.P.’s holdings in Citigroup were worth $32,751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC bought a new stake in shares of Citigroup during the fourth quarter worth approximately $28,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup in the first quarter valued at approximately $28,000. American National Bank & Trust acquired a new position in Citigroup during the first quarter valued at approximately $29,000. Accent Capital Management LLC raised its position in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new position in Citigroup during the fourth quarter valued at approximately $34,000. Institutional investors own 71.72% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several research analyst reports. TD Cowen upped their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 16th. UBS Group reissued a “neutral” rating and issued a $89.00 price objective on shares of Citigroup in a research note on Tuesday, July 15th. Cowen began coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their price objective on shares of Citigroup from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.54.

Citigroup Stock Up 0.2%

Shares of NYSE:C opened at $92.03 on Tuesday. The firm has a fifty day moving average price of $84.73 and a two-hundred day moving average price of $77.05. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup Inc. has a one year low of $53.51 and a one year high of $96.90. The company has a market cap of $171.89 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.79 and a beta of 1.38.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period last year, the firm earned $1.52 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts anticipate 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 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is presently 33.09%.

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.