Elevation Point Wealth Partners LLC Sells 18,553 Shares of Citigroup Inc. (NYSE:C)

Elevation Point Wealth Partners LLC lessened its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 28.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,427 shares of the company's stock after selling 18,553 shares during the period. Elevation Point Wealth Partners LLC's holdings in Citigroup were worth $3,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Citigroup by 1.7% in 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 during the period. Price T Rowe Associates Inc. MD raised its position in shares of Citigroup by 2.2% in the fourth 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 buying an additional 815,003 shares in the last quarter. FMR LLC boosted its stake in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the period. Franklin Resources Inc. grew its position in Citigroup by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after buying an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors increased its stake in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Trading Down 2.5%

Shares of C stock traded down $1.93 during mid-day trading on Friday, reaching $76.30. 11,986,532 shares of the stock traded hands, compared to its average volume of 14,530,563. The company 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. 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 stock's fifty day simple moving average is $71.01 and its two-hundred day simple moving average is $73.01. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. On average, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial decreased their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Evercore ISI dropped their target price on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. Finally, TD Cowen assumed coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $84.30.

Insider Buying and Selling

In other 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 value of $301,504.42. Following the sale, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

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.