Jupiter Asset Management Ltd. Reduces Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Jupiter Asset Management Ltd. reduced its holdings in Citigroup by 36.8%, now owning 297,990 shares valued at $21.15 million after selling 173,562 shares in the first quarter.
• Citigroup's quarterly earnings report showed an EPS of $1.96, surpassing analysts' expectations of $1.61, alongside a year-over-year revenue increase of 8.2% to $21.67 billion.
• The company announced a dividend increase, now paying $0.60 per share, reflecting a positive change from its previous dividend of $0.56, with a dividend yield of 2.6%.

Jupiter Asset Management Ltd. cut its holdings in Citigroup Inc. (NYSE:C - Free Report) by 36.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 297,990 shares of the company's stock after selling 173,562 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Citigroup were worth $21,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Orion Capital Management LLC purchased a new position in Citigroup during the fourth quarter worth $28,000. MorganRosel Wealth Management LLC purchased a new position in Citigroup during the first quarter worth $28,000. American National Bank & Trust purchased a new position in Citigroup during the first quarter worth $29,000. Mascagni Wealth Management Inc. purchased a new position in Citigroup during the fourth quarter worth $34,000. Finally, HHM Wealth Advisors LLC lifted its position in shares of Citigroup by 805.2% during the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock worth $37,000 after purchasing an additional 467 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the business'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 owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cowen assumed coverage on Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Bank of America lifted their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. TD Cowen lifted their target price on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Finally, Piper Sandler lifted their target price on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Stock Up 0.6%

Citigroup stock traded up $0.54 during trading hours on Wednesday, reaching $92.06. The stock had a trading volume of 4,012,404 shares, compared to its average volume of 15,865,293. The company has a market cap of $171.93 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.79 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The business's 50 day moving average price is $85.06 and its 200-day moving average price is $77.15. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90.

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

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's payout ratio is presently 35.45%.

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.