Oppenheimer & Co. Inc. Reduces Stock Holdings in Citigroup Inc. (NYSE:C)

Oppenheimer & Co. Inc. cut its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,312 shares of the company's stock after selling 29,262 shares during the period. Oppenheimer & Co. Inc.'s holdings in Citigroup were worth $21,390,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of C. Geode Capital Management LLC boosted its position in Citigroup by 1.7% in the fourth 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in Citigroup by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the last quarter. FMR LLC boosted its position in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. boosted its position in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors boosted its position in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

C traded up $1.79 on Tuesday, hitting $81.15. 18,350,437 shares of the company's stock traded hands, compared to its average volume of 14,520,537. The company's 50 day simple moving average is $73.27 and its 200-day simple moving average is $73.38. The firm has a market cap of $151.57 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.61 and a beta of 1.33. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. 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 (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.76%. The ex-dividend date was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred 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 owns 13,048 shares of the company's stock, valued at $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler reissued an "overweight" rating and issued a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price objective (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Royal Bank Of Canada lowered their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI lowered their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a research report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.30.

About Citigroup

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.