Citigroup Inc. (NYSE:C) Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board reduced its holdings in Citigroup Inc. by 19.3%, now owning 814,883 shares worth approximately $57.8 million.
• Citigroup recently reported a quarterly earnings per share (EPS) of $1.96, exceeding analysts' expectations of $1.61, with a revenue increase of 8.2% year-over-year.
• The company announced an increase in its quarterly dividend to $0.60 per share, up from $0.56, resulting in an annualized yield of 2.6%.

Public Sector Pension Investment Board trimmed its position in Citigroup Inc. (NYSE:C - Free Report) by 19.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 814,883 shares of the company's stock after selling 194,820 shares during the quarter. Public Sector Pension Investment Board's holdings in Citigroup were worth $57,849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of C. Private Advisory Group LLC raised its holdings in shares of Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after buying an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Citigroup by 109.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after purchasing an additional 649,807 shares in the last quarter. Brighton Jones LLC increased its stake in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC purchased a new stake in Citigroup during the 1st quarter worth approximately $214,000. Finally, Pinnacle Financial Partners Inc lifted its holdings in Citigroup by 495.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after buying an additional 15,436 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

C has been the topic of several recent analyst reports. UBS Group reissued a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Wells Fargo & Company raised their target price on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley upped their price target on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Oppenheimer raised their price objective on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Bank of America boosted their price objective on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, 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 filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by insiders.

Citigroup Trading Up 0.8%

NYSE C traded up $0.78 during trading hours on Thursday, hitting $95.43. 13,285,484 shares of the company's stock were exchanged, compared to its average volume of 15,872,954. The business's 50 day moving average is $87.15 and its 200-day moving average is $77.67. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $96.90. The firm has a market capitalization of $175.68 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38.

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

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

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.