Clearstead Trust LLC Cuts Stock Position in Citigroup Inc. (NYSE:C)

Clearstead Trust LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 52.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,890 shares of the company’s stock after selling 2,110 shares during the period. Clearstead Trust LLC’s holdings in Citigroup were worth $97,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Orion Capital Management LLC purchased a new position in shares of Citigroup in the fourth quarter worth about $26,000. Carmel Capital Partners LLC acquired a new stake in shares of Citigroup in the third quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new position in Citigroup during the fourth quarter worth approximately $35,000. AlphaMark Advisors LLC boosted its stake in Citigroup by 75.0% during the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Citigroup in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. HSBC raised their price objective on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Piper Sandler increased their price objective on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Societe Generale downgraded Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Jefferies Financial Group increased their price target on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.85.

Citigroup Stock Up 0.8 %

Shares of Citigroup stock traded up $0.51 during trading hours on Friday, reaching $61.52. 11,048,877 shares of the company were exchanged, compared to its average volume of 15,112,875. The firm has a market cap of $117.83 billion, a PE ratio of 18.20, a PEG ratio of 0.92 and a beta of 1.49. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $63.90. The stock’s fifty day moving average is $59.70 and its 200 day moving average is $52.79.

Citigroup (NYSE:C) last posted 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. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same quarter last year, the company earned $1.86 EPS. Citigroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Citigroup Inc. will post 5.98 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.45%. Citigroup’s payout ratio 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.