Summit Global Investments Has $927,000 Stake in Citigroup Inc. (NYSE:C)

Summit Global Investments reduced its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 79.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,057 shares of the company's stock after selling 49,547 shares during the quarter. Summit Global Investments' holdings in Citigroup were worth $927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Norges Bank bought a new stake in Citigroup during the fourth quarter worth $1,935,599,000. Capital World Investors raised its position in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares in the last quarter. FMR LLC raised its position in shares of 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 purchasing an additional 7,863,718 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Citigroup during the 4th quarter worth about $198,231,000. Finally, Franklin Resources Inc. lifted 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 buying an additional 2,804,850 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The shares were 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 owns 13,048 shares of the company's stock, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on C. Evercore ISI cut their price objective on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. TD Cowen started coverage on Citigroup in a report on Thursday, May 15th. They set a "hold" rating and a $83.00 target price for the company. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Oppenheimer reissued 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 stock. According to MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.97.

Citigroup Price Performance

Shares of C stock traded up $0.74 on Tuesday, reaching $76.54. The company had a trading volume of 9,061,475 shares, compared to its average volume of 14,524,508. The stock has a market capitalization of $142.96 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The business's 50-day moving average is $68.94 and its 200 day moving average is $72.55.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued 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 2.93%. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Citigroup Company 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.