Heritage Investors Management Corp Sells 7,615 Shares of Citigroup Inc. (NYSE:C)

Heritage Investors Management Corp decreased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,321 shares of the company's stock after selling 7,615 shares during the period. Heritage Investors Management Corp's holdings in Citigroup were worth $22,811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Brighton Jones LLC raised its stake in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Citigroup in the fourth quarter valued at approximately $274,000. Whittier Trust Co. raised its stake in shares of Citigroup by 14.6% in the fourth quarter. Whittier Trust Co. now owns 41,212 shares of the company's stock valued at $2,900,000 after acquiring an additional 5,260 shares during the last quarter. Summit Global Investments raised its stake in shares of Citigroup by 104.3% in the fourth quarter. Summit Global Investments now owns 62,604 shares of the company's stock valued at $4,407,000 after acquiring an additional 31,964 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of Citigroup in the fourth quarter valued at approximately $99,000. Institutional investors own 71.72% of the company's stock.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were 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 in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

C has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday. Evercore ISI set a $77.00 price target on Citigroup in a research note on Monday, July 7th. Truist Financial raised their price target on Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday. Royal Bank Of Canada lowered their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Six investment 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $96.46.

Citigroup Price Performance

Shares of NYSE C opened at $93.44 on Friday. The firm has a market cap of $174.52 billion, a PE ratio of 13.80, a PEG 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 1-year low of $53.51 and a 1-year high of $93.80. The company has a fifty day moving average price of $80.43 and a 200 day moving average price of $75.48.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. Research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal 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 given a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.57%. Citigroup's payout ratio is 35.45%.

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.

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