Cidel Asset Management Inc. Sells 3,032 Shares of Citigroup Inc. (NYSE:C)

Cidel Asset Management Inc. reduced its stake in Citigroup Inc. (NYSE:C - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,469 shares of the company's stock after selling 3,032 shares during the period. Cidel Asset Management Inc.'s holdings in Citigroup were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Orion Capital Management LLC bought a new stake in shares of Citigroup during the 4th quarter worth approximately $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup during the first quarter valued at approximately $28,000. American National Bank & Trust acquired a new position in Citigroup during the first quarter valued at approximately $29,000. Mascagni Wealth Management Inc. bought a new stake in Citigroup during the fourth quarter worth $34,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Trading Up 0.5%

NYSE:C traded up $0.42 during trading hours on Wednesday, hitting $86.69. 13,414,595 shares of the company were exchanged, compared to its average volume of 14,602,393. The company has a fifty day simple moving average of $75.41 and a 200 day simple moving average of $73.83. Citigroup Inc. has a one year low of $53.51 and a one year high of $86.92. The stock has a market capitalization of $161.91 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C - Get Free Report) last posted 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. The company had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. Sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Analyst Ratings Changes

C has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Citigroup from $90.00 to $94.00 and gave the company an "overweight" rating in a research note on Monday, June 23rd. Royal Bank Of Canada dropped their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. TD Cowen assumed coverage on shares of Citigroup in a report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $84.83.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director owned 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Citigroup 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.