Citigroup Inc. (NYSE:C) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its holdings in shares of Citigroup Inc. (NYSE:C) by 0.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 589,536 shares of the company’s stock after selling 2,600 shares during the period. State of Michigan Retirement System’s holdings in Citigroup were worth $37,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kentucky Retirement Systems raised its position in shares of Citigroup by 2.6% in the fourth quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock worth $7,877,000 after acquiring an additional 3,808 shares during the period. Simplicity Solutions LLC grew its stake in Citigroup by 17.6% during the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after acquiring an additional 4,150 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Citigroup by 56.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after acquiring an additional 449,310 shares in the last quarter. GFS Advisors LLC purchased a new stake in Citigroup during the 4th quarter valued at about $2,003,000. Finally, TD Asset Management Inc grew its stake in Citigroup by 21.8% during the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock valued at $49,776,000 after acquiring an additional 173,137 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 2.0 %

Shares of C traded up $1.25 during midday trading on Tuesday, reaching $64.68. The stock had a trading volume of 10,715,747 shares, compared to its average volume of 15,057,245. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $64.98. The company’s fifty day simple moving average is $62.11 and its two-hundred day simple moving average is $58.08. The company has a market cap of $123.37 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 0.97 and a beta of 1.46. 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 posted its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.86 EPS. Equities research analysts expect that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is 62.72%.

Analysts Set New Price Targets

Several brokerages recently issued reports on C. Evercore ISI upped their price objective on shares of Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Citigroup in a research note on Thursday, June 20th. Oppenheimer dropped their price target on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, April 30th. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.03.

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.