Integrated Advisors Network LLC Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

Integrated Advisors Network LLC lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 71.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,585 shares of the company's stock after selling 33,324 shares during the quarter. Integrated Advisors Network LLC's holdings in Citigroup were worth $964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after purchasing an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Citigroup by 2.2% in the 4th 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 acquiring an additional 815,003 shares during the period. FMR LLC raised its position in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. grew its stake in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on C. Morgan Stanley decreased their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. TD Cowen started coverage on Citigroup in a report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Truist Financial reduced their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada lowered their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.30.

Insiders Place Their Bets

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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by company insiders.

Citigroup Stock Performance

Shares of NYSE C traded down $1.93 during mid-day trading on Friday, hitting $76.30. 11,986,532 shares of the company were exchanged, compared to its average volume of 14,530,521. The firm 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 stock has a 50 day simple moving average of $70.65 and a 200-day simple moving average of $72.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. 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 released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS 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 the consensus estimate of $21.34 billion. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

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

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.