DT Investment Partners LLC Sells 498 Shares of Citigroup Inc. (NYSE:C)

DT Investment Partners LLC lowered its stake in Citigroup Inc. (NYSE:C) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,489 shares of the company’s stock after selling 498 shares during the period. DT Investment Partners LLC’s holdings in Citigroup were worth $1,341,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in C. Snider Financial Group boosted its holdings in Citigroup by 96,645.9% in the first quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after acquiring an additional 84,407,589 shares in the last quarter. Norges Bank bought a new stake in Citigroup in the fourth quarter valued at $631,922,000. Moneta Group Investment Advisors LLC boosted its holdings in Citigroup by 87,332.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,511,342 shares of the company’s stock valued at $339,738,000 after acquiring an additional 7,502,751 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Citigroup in the fourth quarter valued at $2,109,120,000. Finally, Greenhaven Associates Inc. boosted its holdings in Citigroup by 22.4% in the fourth quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock valued at $828,868,000 after acquiring an additional 2,948,512 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. HSBC lifted their price target on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Piper Sandler raised their price objective on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $65.00 in a research report on Tuesday, January 30th. Finally, Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $62.91.

Citigroup Stock Performance

NYSE C traded up $0.82 during trading hours on Friday, hitting $59.14. The company’s stock had a trading volume of 13,410,056 shares, compared to its average volume of 15,644,248. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.90. The company’s 50 day simple moving average is $58.30 and its two-hundred day simple moving average is $51.16. The company has a market cap of $113.27 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52. 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 released its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $20.46 billion. During the same period last year, the company earned $1.86 EPS. Citigroup’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 5.91 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is currently 62.72%.

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.