Perigon Wealth Management LLC Reduces Holdings in Citigroup Inc. (NYSE:C)

Perigon Wealth Management LLC cut its holdings in Citigroup Inc. (NYSE:C - Free Report) by 22.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,510 shares of the company's stock after selling 20,027 shares during the quarter. Perigon Wealth Management LLC's holdings in Citigroup were worth $4,864,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Citigroup during the 4th quarter worth about $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup during the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Citigroup during the fourth quarter worth about $34,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Citigroup in the fourth quarter valued at approximately $39,000. Finally, Whipplewood Advisors LLC lifted its stake in shares of Citigroup by 79.2% during the first quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock valued at $40,000 after buying an additional 252 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on C shares. Morgan Stanley raised their target price on shares of Citigroup from $90.00 to $94.00 and gave the stock an "overweight" rating in a research report on Monday. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. TD Cowen initiated coverage on Citigroup in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Citigroup in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.03.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company's 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 completion of the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.08% of the company's stock.

Citigroup Trading Up 0.0%

Shares of Citigroup stock traded up $0.04 during trading hours on Friday, reaching $84.41. The stock had a trading volume of 21,831,230 shares, compared to its average volume of 14,580,426. The firm has a market capitalization of $157.66 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.90. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The firm has a 50 day simple moving average of $74.10 and a two-hundred day simple moving average of $73.53.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The firm had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's payout ratio is currently 35.39%.

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.