Allen Mooney & Barnes Investment Advisors LLC Decreases Stock Holdings in Citigroup Inc. (NYSE:C)

Allen Mooney & Barnes Investment Advisors LLC reduced its holdings in Citigroup Inc. (NYSE:C) by 0.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,756 shares of the company’s stock after selling 493 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Citigroup were worth $6,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Orion Capital Management LLC purchased a new stake in Citigroup during the fourth quarter valued at approximately $28,000. American National Bank & Trust purchased a new stake in Citigroup during the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. purchased a new stake in Citigroup during the 4th quarter valued at $34,000. Creative Capital Management Investments LLC bought a new stake in Citigroup in the fourth quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in Citigroup during the fourth quarter valued at $37,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of Citigroup stock opened at $78.43 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s fifty day moving average price is $70.26 and its 200-day moving average price is $72.91. The firm has a market cap of $146.49 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. On average, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

C has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. TD Cowen assumed coverage on Citigroup in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 target price for the company. Morgan Stanley reduced their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Bank of America decreased their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.30.

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.