Citigroup Inc. (NYSE:C) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. decreased its position in Citigroup Inc. (NYSE:C) by 5.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,398 shares of the company’s stock after selling 642 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Citigroup were worth $660,000 as of its most recent filing with the Securities and Exchange Commission.

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

Citigroup Stock Performance

C opened at $61.39 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock’s 50 day moving average price is $61.24 and its two-hundred day moving average price is $61.56. The firm has a market capitalization of $117.10 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Citigroup’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.65%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

A number of research firms have commented on C. Piper Sandler upped their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. The Goldman Sachs Group reduced their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada lifted their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Argus upped their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently 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.