Sunbelt Securities Inc. Sells 52,318 Shares of Citigroup Inc. (NYSE:C)

Sunbelt Securities Inc. reduced its stake in shares of Citigroup Inc. (NYSE:C) by 65.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,951 shares of the company’s stock after selling 52,318 shares during the period. Sunbelt Securities Inc.’s holdings in Citigroup were worth $1,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in C. Geode Capital Management LLC lifted its position in shares of Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock valued at $2,853,484,000 after acquiring an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock valued at $2,714,359,000 after purchasing an additional 815,003 shares during the period. FMR LLC raised its stake in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares during the period. Franklin Resources Inc. lifted its holdings in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors boosted its stake in Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Down 0.1%

Shares of NYSE:C opened at $73.33 on Friday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. 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 company has a 50-day moving average price of $68.62 and a 200 day moving average price of $72.17. The company has a market cap of $136.96 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.64 and a beta of 1.30.

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

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is 35.39%.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm’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 sale, the director now owns 13,048 shares of the company’s stock, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

C has been the topic of several recent analyst reports. TD Cowen initiated coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 price objective on the stock. Truist Financial dropped their target price on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Cowen started coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a “hold” rating on the stock. Bank of America decreased their price target on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Evercore ISI cut their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.97.

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.