Citigroup Inc. (NYSE:C) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lessened its position in shares of Citigroup Inc. (NYSE:C) by 33.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 636,429 shares of the company’s stock after selling 313,223 shares during the quarter. Public Sector Pension Investment Board’s holdings in Citigroup were worth $40,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MONECO Advisors LLC lifted its stake in Citigroup by 2.9% during the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after purchasing an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after buying an additional 164 shares during the last quarter. NorthRock Partners LLC boosted its holdings in shares of Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares in the last quarter. Legacy Capital Group California Inc. grew its position in shares of Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after buying an additional 169 shares during the last quarter. Finally, Gries Financial LLC raised its stake in Citigroup by 3.0% during the 2nd quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after acquiring an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C stock opened at $62.14 on Monday. The stock’s 50 day moving average price is $61.30 and its 200 day moving average price is $61.50. The firm has a market cap of $118.53 billion, a P/E ratio of 17.41, a PEG ratio of 0.62 and a beta of 1.45. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 EPS. On average, sell-side analysts expect that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on C. Argus lifted their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Piper Sandler lifted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Oppenheimer lifted their target price on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $68.25.

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.