Citigroup Inc. (NYSE:C) Position Lessened by Foundry Partners LLC

Foundry Partners LLC trimmed its stake in Citigroup Inc. (NYSE:C - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 475,688 shares of the company's stock after selling 187,418 shares during the period. Citigroup accounts for 1.8% of Foundry Partners LLC's portfolio, making the stock its 4th largest position. Foundry Partners LLC's holdings in Citigroup were worth $33,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in C. Allegiance Financial Group Advisory Services LLC purchased a new position in shares of Citigroup in the 1st quarter valued at approximately $268,000. Nwam LLC increased its stake in Citigroup by 25.4% during the 1st quarter. Nwam LLC now owns 7,678 shares of the company's stock valued at $545,000 after purchasing an additional 1,556 shares in the last quarter. FLC Capital Advisors purchased a new position in shares of Citigroup in the first quarter worth $211,000. Archer Investment Corp lifted its stake in shares of Citigroup by 1,375.0% during the first quarter. Archer Investment Corp now owns 7,832 shares of the company's stock worth $556,000 after buying an additional 7,301 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Citigroup by 0.9% during the first quarter. Jennison Associates LLC now owns 24,204 shares of the company's stock worth $1,718,000 after buying an additional 219 shares during the period. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen raised their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday. Truist Financial raised their price objective on Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday. Piper Sandler raised their price objective on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Oppenheimer set a $123.00 price objective on Citigroup and gave the stock an "outperform" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.46.

Citigroup Trading Up 0.4%

NYSE C traded up $0.35 on Friday, reaching $93.44. 16,590,582 shares of the company were exchanged, compared to its average volume of 14,699,795. The business's fifty day moving average price is $80.43 and its 200 day moving average price is $75.48. The stock has a market capitalization of $174.52 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $93.80.

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

Citigroup Increases Dividend

The firm also recently declared 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 represents a $2.40 dividend on an annualized basis and a yield of 2.57%. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is 35.45%.

Insider Activity

In other Citigroup news, 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 transaction of $301,504.42. Following the completion of the sale, the director directly owned 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter B. Henry sold 3,000 shares of the business'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 value of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by 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.