First Pacific Advisors LP Reduces Stock Position in Citigroup Inc. (NYSE:C)

First Pacific Advisors LP trimmed its stake in Citigroup Inc. (NYSE:C - Free Report) by 14.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,778,727 shares of the company's stock after selling 981,450 shares during the quarter. Citigroup accounts for 6.6% of First Pacific Advisors LP's portfolio, making the stock its 3rd largest position. First Pacific Advisors LP owned about 0.31% of Citigroup worth $410,232,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. True Wealth Design LLC raised its position in shares of Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after purchasing an additional 119 shares during the period. Continuum Advisory LLC raised its position in shares of Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after purchasing an additional 120 shares during the period. Insight Inv LLC raised its position in shares of Citigroup by 0.5% in the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after purchasing an additional 146 shares during the period. Trust Co. of Vermont raised its position in shares of Citigroup by 14.3% in the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock valued at $85,000 after purchasing an additional 150 shares during the period. Finally, Mystic Asset Management Inc. raised its position in shares of Citigroup by 0.5% in the first quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company's stock valued at $2,066,000 after purchasing an additional 150 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director directly owned 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on C. Piper Sandler restated an "overweight" rating and issued a $104.00 price objective (up previously from $84.00) on shares of Citigroup in a research note on Wednesday, July 16th. TD Cowen raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Truist Financial raised their price objective on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Evercore ISI set a $77.00 price objective on shares of Citigroup in a research note on Monday, July 7th. Finally, Oppenheimer set a $123.00 price target on shares of Citigroup and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.46.

Citigroup Trading Up 0.7%

NYSE:C traded up $0.65 on Friday, hitting $96.04. 13,537,763 shares of the stock were exchanged, compared to its average volume of 16,283,003. The stock has a market capitalization of $179.37 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.83 and a beta of 1.34. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The company's 50-day moving average price is $82.36 and its 200 day moving average price is $76.27.

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

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is currently 33.09%.

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.