Citigroup Inc. $C Shares Sold by Academy Capital Management

Academy Capital Management reduced its stake in Citigroup Inc. (NYSE:C) by 13.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,788 shares of the company’s stock after selling 9,826 shares during the period. Citigroup makes up approximately 0.8% of Academy Capital Management’s portfolio, making the stock its 18th biggest position. Academy Capital Management’s holdings in Citigroup were worth $4,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Private Advisory Group LLC raised its holdings in shares of Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock valued at $4,940,000 after buying an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock worth $88,458,000 after purchasing an additional 649,807 shares during the period. Brighton Jones LLC lifted its position in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new position in shares of Citigroup in the first quarter valued at approximately $214,000. Finally, Pinnacle Financial Partners Inc grew its holdings in shares of Citigroup by 495.1% in the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company’s stock valued at $1,317,000 after purchasing an additional 15,436 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C stock opened at $94.20 on Tuesday. The firm has a market cap of $173.41 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.81 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $96.90. The stock’s 50-day moving average is $88.15 and its two-hundred day moving average is $77.90.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the prior year, the company earned $1.52 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is 35.45%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Dbs Bank raised shares of Citigroup from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Citigroup in a research note on Wednesday, July 16th. Piper Sandler increased their price target on Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their target price on shares of Citigroup from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Finally, Truist Financial raised their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.54.

Insiders Place Their Bets

In other news, Director Peter B. Henry sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company’s stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

About Citigroup

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.