Citigroup Inc. (NYSE:C) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. reduced its position in shares of Citigroup Inc. (NYSE:C) by 16.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,658 shares of the company’s stock after selling 704 shares during the quarter. Zions Bancorporation N.A.’s holdings in Citigroup were worth $232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. POM Investment Strategies LLC acquired a new position in Citigroup in the second quarter valued at $25,000. Frazier Financial Advisors LLC purchased a new stake in Citigroup in the 4th quarter valued at about $29,000. Beacon Capital Management LLC increased its stake in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after acquiring an additional 569 shares during the period. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Citigroup in the second quarter worth approximately $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

C opened at $57.67 on Friday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market cap of $110.02 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.62 and a beta of 1.45. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a fifty day simple moving average of $61.81 and a 200 day simple moving average of $61.33.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same period last year, the firm earned $1.37 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio is presently 62.75%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Evercore ISI increased their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Piper Sandler increased their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Oppenheimer boosted their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Finally, BMO Capital Markets boosted their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.25.

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.