Citigroup Inc. (NYSE:C) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,369 shares of the company’s stock after selling 1,774 shares during the period. Park Avenue Securities LLC’s holdings in Citigroup were worth $3,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lloyd Advisory Services LLC. boosted its position in shares of Citigroup by 355.9% in the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after purchasing an additional 14,922 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after buying an additional 8,593 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after buying an additional 23,774 shares in the last quarter. BDF Gestion acquired a new position in shares of Citigroup in the second quarter worth about $3,861,000. Finally, New Mexico Educational Retirement Board increased its position in shares of Citigroup by 13.9% in the first quarter. New Mexico Educational Retirement Board now owns 115,426 shares of the company’s stock worth $7,300,000 after acquiring an additional 14,100 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

NYSE C opened at $62.64 on Friday. The company’s fifty day moving average is $60.61 and its two-hundred day moving average is $61.77. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $119.48 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is 62.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Argus increased their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Piper Sandler lifted their target price 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. Finally, Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.06.

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.