Carret Asset Management LLC Sells 1,475 Shares of Citigroup Inc. (NYSE:C)

Carret Asset Management LLC reduced its stake in Citigroup Inc. (NYSE:C) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,522 shares of the company’s stock after selling 1,475 shares during the quarter. Carret Asset Management LLC’s holdings in Citigroup were worth $1,519,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Carmel Capital Partners LLC purchased a new position in shares of Citigroup during the 3rd quarter worth about $25,000. GHP Investment Advisors Inc. boosted its stake in shares of Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after purchasing an additional 290 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 300 shares during the period. OFI Invest Asset Management purchased a new position in shares of Citigroup during the 3rd quarter worth about $35,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Citigroup during the 4th quarter worth about $35,000. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a research report on Monday, April 1st. Oppenheimer lowered their price objective on shares of Citigroup from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Barclays upped their price target on shares of Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Piper Sandler upped their price target on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.91.

Citigroup Stock Performance

Citigroup stock traded down $0.93 during mid-day trading on Thursday, reaching $61.54. 4,928,930 shares of the company traded hands, compared to its average volume of 16,934,154. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The company has a market capitalization of $117.87 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.94 and a beta of 1.52. The firm’s fifty day moving average is $58.81 and its two-hundred day moving average is $51.70.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The business had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 EPS. On average, equities research analysts expect that Citigroup Inc. will post 5.97 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is currently 62.72%.

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.