Steph & Co. Lowers Stake in Citigroup Inc. (NYSE:C)

Steph & Co. reduced its position in Citigroup Inc. (NYSE:C) by 9.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,687 shares of the company’s stock after selling 1,017 shares during the quarter. Steph & Co.’s holdings in Citigroup were worth $498,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of C. Meridian Wealth Management LLC lifted its holdings in Citigroup by 130.4% in the third quarter. Meridian Wealth Management LLC now owns 175,576 shares of the company’s stock worth $7,221,000 after buying an additional 99,371 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Citigroup in the third quarter worth about $209,000. Simplicity Solutions LLC grew its holdings in shares of Citigroup by 17.6% during the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after buying an additional 4,150 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Citigroup by 56.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after acquiring an additional 449,310 shares in the last quarter. Finally, GFS Advisors LLC purchased a new position in shares of Citigroup in the fourth quarter worth $2,003,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

C stock traded up $1.15 during midday trading on Wednesday, reaching $58.17. The stock had a trading volume of 14,882,195 shares, compared to its average volume of 17,315,002. The firm has a fifty day simple moving average of $58.04 and a two-hundred day simple moving average of $50.93. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $111.41 billion, a PE ratio of 17.26, a P/E/G ratio of 0.92 and a beta of 1.52. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. The business had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 EPS. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.73 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. Evercore ISI raised their target price on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, January 3rd. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. BMO Capital Markets cut shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price for the company. in a report on Wednesday, January 10th. Finally, Oppenheimer dropped their price target on shares of Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $62.91.

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.