Cary Street Partners Investment Advisory LLC Trims Stake in Citigroup Inc. (NYSE:C)

Cary Street Partners Investment Advisory LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 53.0% in the fourth quarter, Holdings Channel reports. The firm owned 27,849 shares of the company’s stock after selling 31,362 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Citigroup were worth $1,433,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of C. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Citigroup in the 3rd quarter valued at approximately $209,000. Simplicity Solutions LLC lifted its stake in Citigroup by 17.6% during the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock worth $1,430,000 after purchasing an additional 4,150 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Citigroup by 56.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock worth $64,078,000 after buying an additional 449,310 shares during the period. GFS Advisors LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at $2,003,000. Finally, Sound Income Strategies LLC lifted its stake in Citigroup by 9.1% during the 4th quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after acquiring an additional 21,440 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of NYSE:C traded down $0.38 on Tuesday, reaching $61.88. The company’s stock had a trading volume of 3,707,673 shares, compared to its average volume of 16,802,238. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90. The stock has a market capitalization of $118.52 billion, a P/E ratio of 18.27, a PEG ratio of 0.94 and a beta of 1.52. The stock’s 50-day moving average is $59.24 and its two-hundred day moving average is $52.21. 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 (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 EPS. As a group, sell-side analysts forecast that Citigroup Inc. will post 5.97 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.43%. Citigroup’s payout ratio is currently 62.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on C. Morgan Stanley raised shares of Citigroup from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $46.00 to $65.00 in a research report on Tuesday, January 30th. Evercore ISI increased their target price on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Oppenheimer dropped their price target on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday. Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Finally, StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.85.

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.