PSI Advisors LLC Lowers Position in Citigroup Inc. (NYSE:C)

PSI Advisors LLC reduced its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 73.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,780 shares of the company's stock after selling 13,327 shares during the period. PSI Advisors LLC's holdings in Citigroup were worth $339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after buying an additional 667,357 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 acquiring an additional 815,003 shares during the period. FMR LLC boosted its stake in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Citigroup by 9.3% during the 4th 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 increased its stake in shares of Citigroup by 455.2% during the 4th 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. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

C stock opened at $77.37 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a 50 day moving average price of $71.66 and a 200-day moving average price of $73.13. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The firm has a market capitalization of $144.51 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.60 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 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 net margin of 7.95% and a return on equity of 6.94%. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders 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 2.90%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio is currently 35.39%.

Insider Activity

In related news, 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 value of $301,504.42. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Royal Bank Of Canada cut their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.30.

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.

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