Sunbelt Securities Inc. Reduces Stock Holdings in Citigroup Inc. (NYSE:C)

Sunbelt Securities Inc. lowered its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 41.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,253 shares of the company's stock after selling 11,698 shares during the quarter. Sunbelt Securities Inc.'s holdings in Citigroup were worth $1,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $28,000. American National Bank & Trust bought a new position in shares of Citigroup in the first quarter worth about $29,000. Mascagni Wealth Management Inc. purchased a new position in Citigroup in the 4th quarter worth about $34,000. Runnymede Capital Advisors Inc. bought a new stake in Citigroup during the 4th quarter valued at about $39,000. Finally, Whipplewood Advisors LLC boosted its position in Citigroup by 79.2% in the 1st 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. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In other news, Director John Cunningham Dugan sold 4,417 shares of the business's 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 sale, the director now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.08% of the company's stock.

Citigroup Trading Up 0.0%

NYSE:C opened at $84.41 on Friday. The stock has a market capitalization of $157.66 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.65 and a beta of 1.33. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.79. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The firm has a 50 day moving average of $74.53 and a 200 day moving average of $73.62.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly 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. The business 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, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Oppenheimer reissued an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Truist Financial cut their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Citigroup in a research note on Tuesday. Bank of America increased their target price on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average target price of $84.03.

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.

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