Parkside Investments LLC Cuts Position in Citigroup Inc. (NYSE:C)

Parkside Investments LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,182 shares of the company's stock after selling 4,007 shares during the period. Citigroup makes up about 1.3% of Parkside Investments LLC's holdings, making the stock its 29th largest holding. Parkside Investments LLC's holdings in Citigroup were worth $8,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in C. Orion Capital Management LLC bought a new stake in shares of Citigroup during the 4th quarter worth $28,000. American National Bank & Trust purchased a new stake in Citigroup during the first quarter valued at about $29,000. Mascagni Wealth Management Inc. bought a new stake in Citigroup during the fourth quarter worth about $34,000. Creative Capital Management Investments LLC bought a new stake in Citigroup during the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Citigroup in the 4th quarter worth about $37,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

C has been the topic of a number of research reports. Cowen initiated coverage on Citigroup in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Piper Sandler reissued an "overweight" rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada lowered their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.30.

Citigroup Trading Down 2.5%

Shares of Citigroup stock traded down $1.93 during trading on Friday, reaching $76.30. 11,986,532 shares of the stock were exchanged, compared to its average volume of 14,530,521. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $142.51 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The stock's fifty day moving average is $70.65 and its 200 day moving average is $72.96.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating 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 analyst estimates of $21.34 billion. As a group, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's payout ratio is 35.39%.

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.