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Banco Santander S.A. Sells 39,255 Shares of Citigroup Inc. (NYSE:C)

Citigroup logo with Financial Services background

Key Points

  • Banco Santander S.A. reduced its stake in Citigroup Inc. by 6.4% in Q1, owning 576,602 shares after selling 39,255 shares, with a current value of approximately $40.93 million.
  • Citigroup recently increased its quarterly dividend from $0.56 to $0.60 per share, representing an annualized yield of 2.6%, with the ex-dividend date set for August 4th.
  • The company reported a Q2 EPS of $1.96, surpassing analysts' expectations, along with a year-over-year revenue increase of 8.2% to $21.67 billion.
  • Interested in Citigroup? Here are five stocks we like better.

Banco Santander S.A. cut its position in Citigroup Inc. (NYSE:C - Free Report) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 576,602 shares of the company's stock after selling 39,255 shares during the quarter. Banco Santander S.A.'s holdings in Citigroup were worth $40,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in C. Brighton Jones LLC lifted its stake in Citigroup by 166.9% in 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. OneAscent Financial Services LLC boosted its stake in Citigroup by 9.8% during the 4th quarter. OneAscent Financial Services LLC now owns 4,425 shares of the company's stock worth $312,000 after purchasing an additional 395 shares during the period. World Investment Advisors grew its position in Citigroup by 24.1% during the 4th quarter. World Investment Advisors now owns 26,706 shares of the company's stock worth $1,880,000 after purchasing an additional 5,179 shares during the last quarter. Yoffe Investment Management LLC acquired a new position in Citigroup in the fourth quarter valued at $235,000. Finally, Integrated Quantitative Investments LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $415,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm'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 transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

C has been the topic of a number of analyst reports. Royal Bank Of Canada lowered their target price on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Bank of America boosted their target price on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Morgan Stanley boosted their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Oppenheimer lifted their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $96.54.

Read Our Latest Analysis on C

Citigroup Price Performance

Shares of C traded up $0.20 during trading hours on Monday, hitting $92.03. 11,609,878 shares of the company were exchanged, compared to its average volume of 16,722,995. The company has a market cap of $171.89 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 0.79 and a beta of 1.38. The firm's fifty day moving average is $84.36 and its 200 day moving average is $76.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two 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.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is 33.09%.

About Citigroup

(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.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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