Oppenheimer Asset Management Inc. Sells 185,969 Shares of Citigroup Inc. (NYSE:C)

Oppenheimer Asset Management Inc. cut its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 13.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,188,335 shares of the company's stock after selling 185,969 shares during the quarter. Citigroup accounts for 1.0% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 11th largest position. Oppenheimer Asset Management Inc. owned about 0.06% of Citigroup worth $84,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Citigroup in the fourth quarter worth approximately $10,400,000. Concurrent Investment Advisors LLC lifted its position in shares of Citigroup by 14.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 17,475 shares of the company's stock worth $1,230,000 after purchasing an additional 2,149 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new position in Citigroup during the fourth quarter valued at approximately $278,000. Finally, Navellier & Associates Inc. raised its position in Citigroup by 25.7% during the fourth quarter. Navellier & Associates Inc. now owns 15,076 shares of the company's stock valued at $1,061,000 after acquiring an additional 3,078 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of Citigroup stock traded up $1.79 during trading on Tuesday, reaching $81.15. The company's stock had a trading volume of 18,350,437 shares, compared to its average volume of 14,520,537. The stock has a 50-day moving average price of $73.27 and a two-hundred day moving average price of $73.38. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The stock has a market capitalization of $151.57 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.61 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. As a group, sell-side 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 given a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.76%. Citigroup's payout ratio is 35.39%.

Insider Buying and Selling

In other news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Citigroup in a report on Tuesday. Truist Financial lowered their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $92.00 price target (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.30.

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.