Global Retirement Partners LLC Reduces Stock Position in Citigroup Inc. (NYSE:C)

Global Retirement Partners LLC cut its stake in Citigroup Inc. (NYSE:CFree Report) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,644 shares of the company’s stock after selling 844 shares during the period. Global Retirement Partners LLC’s holdings in Citigroup were worth $500,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its stake in shares of Citigroup by 24.5% during the 1st quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock worth $1,589,000 after purchasing an additional 5,853 shares in the last quarter. Zions Bancorporation N.A. increased its stake in shares of Citigroup by 50.5% during the 1st quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock worth $334,000 after purchasing an additional 2,100 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Citigroup by 20.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock worth $282,000 after purchasing an additional 907 shares in the last quarter. Ergoteles LLC purchased a new stake in Citigroup in the 1st quarter worth approximately $761,000. Finally, Halbert Hargrove Global Advisors LLC grew its stake in Citigroup by 7.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock worth $218,000 after acquiring an additional 268 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C opened at $63.46 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $121.54 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.76 and a beta of 1.52. The firm’s fifty day simple moving average is $56.75 and its 200 day simple moving average is $49.45. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $63.90.

Citigroup (NYSE:CGet Free Report) last posted its earnings results on Friday, January 12th. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($1.89). The business had revenue of $17.44 billion for the quarter, compared to analyst estimates of $18.71 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. As a group, equities research analysts expect that Citigroup Inc. will post 5.83 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 5th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $2.12 dividend on an annualized basis and a yield of 3.34%. Citigroup’s dividend payout ratio is currently 53.13%.

Wall Street Analyst Weigh In

Several research firms have commented on C. Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Wednesday, January 3rd. TheStreet raised shares of Citigroup from a “c+” rating to a “b-” rating in a research note on Wednesday, December 13th. Piper Sandler raised shares of Citigroup from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $56.00 to $63.00 in a research note on Wednesday, February 14th. Barclays lifted their target price on shares of Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Societe Generale cut shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.56.

Check Out Our Latest Research Report on C

Citigroup Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Citigroup (NYSE:C)

Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.