Handelsbanken Fonder AB Sells 16,735 Shares of Citigroup Inc. (NYSE:C)

Handelsbanken Fonder AB decreased its position in Citigroup Inc. (NYSE:C - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 677,758 shares of the company's stock after selling 16,735 shares during the period. Handelsbanken Fonder AB's holdings in Citigroup were worth $48,114,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in 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 acquiring an additional 119 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Citigroup by 1.9% during the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after purchasing an additional 120 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC increased its position in shares of Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company's stock valued at $608,000 after buying an additional 135 shares during the period. Hemington Wealth Management increased its position in shares of Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company's stock valued at $97,000 after buying an additional 136 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company's stock worth $289,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

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 stock was 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 represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Performance

Shares of NYSE:C traded down $1.93 during midday trading on Friday, reaching $76.30. 11,986,532 shares of the company's stock traded hands, compared to its average volume of 14,530,521. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The stock has a 50 day moving average of $71.01 and a 200 day moving average of $73.01. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $142.51 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $21.34 billion. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The company 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. This represents a $2.24 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's payout ratio is currently 35.39%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 price target (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Piper Sandler reissued an "overweight" rating and set a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $75.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Bank of America decreased their price target on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.30.

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.