Beach Investment Counsel Inc. PA Has $14.08 Million Position in Citigroup Inc. (NYSE:C)

Beach Investment Counsel Inc. PA cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,261 shares of the company's stock after selling 38,548 shares during the period. Citigroup comprises approximately 2.1% of Beach Investment Counsel Inc. PA's holdings, making the stock its 16th largest holding. Beach Investment Counsel Inc. PA's holdings in Citigroup were worth $14,075,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of C. Geode Capital Management LLC increased its holdings in Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after purchasing an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock valued at $2,714,359,000 after purchasing an additional 815,003 shares in the last quarter. FMR LLC increased its holdings in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. increased its holdings in Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors increased its holdings in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. TD Cowen assumed coverage on Citigroup in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Bank of America decreased their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.97.

Citigroup Trading Up 2.2%

Shares of Citigroup stock traded up $1.65 during trading on Friday, reaching $78.32. 11,514,514 shares of the company were exchanged, compared to its average volume of 14,600,134. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The business has a 50-day moving average price of $69.43 and a 200-day moving average price of $72.75. The firm has a market capitalization of $146.28 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.86%. Citigroup's dividend payout ratio (DPR) is currently 35.39%.

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.