KLP Kapitalforvaltning AS Has $61.52 Million Stake in Citigroup Inc. (NYSE:C)

KLP Kapitalforvaltning AS lowered its holdings in Citigroup Inc. (NYSE:C - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 866,541 shares of the company's stock after selling 13,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Citigroup were worth $61,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter worth $28,000. MorganRosel Wealth Management LLC purchased a new stake in Citigroup in the 1st quarter worth about $28,000. American National Bank & Trust acquired a new stake in Citigroup during the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. purchased a new position in Citigroup during the 4th quarter valued at about $34,000. Finally, Whipplewood Advisors LLC increased its holdings in shares of Citigroup by 79.2% in the 1st quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock valued at $40,000 after purchasing an additional 252 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

C stock traded down $0.60 during midday trading on Thursday, hitting $95.39. The stock had a trading volume of 15,639,018 shares, compared to its average volume of 15,975,253. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.91. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock has a 50-day simple moving average of $81.57 and a 200 day simple moving average of $75.94. The firm has a market capitalization of $178.16 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.81 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the company posted $1.52 EPS. The company's revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is currently 33.09%.

Insider Buying and Selling at Citigroup

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on C shares. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Oppenheimer set a $123.00 target price on Citigroup and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial lifted their price target on Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Piper Sandler raised their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $96.46.

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.