Procyon Advisors LLC Buys 1,712 Shares of Citigroup Inc. (NYSE:C)

Procyon Advisors LLC increased its position in Citigroup Inc. (NYSE:C) by 16.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,176 shares of the company’s stock after purchasing an additional 1,712 shares during the quarter. Procyon Advisors LLC’s holdings in Citigroup were worth $864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of C. Geode Capital Management LLC raised its holdings in shares of Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock valued at $2,853,484,000 after purchasing an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Citigroup by 2.2% during the fourth 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 buying an additional 815,003 shares during the period. FMR LLC raised its stake in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Citigroup by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after buying an additional 2,804,850 shares during the period. Finally, Capital World Investors lifted its holdings in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after buying an additional 25,705,141 shares during the period. Institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Up 2.2%

C stock opened at $78.32 on Friday. The stock has a market capitalization of $146.28 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average of $69.43 and a 200 day moving average of $72.75.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.86%. Citigroup’s dividend payout ratio is currently 35.39%.

Analyst Ratings Changes

C has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a research report on Sunday, June 1st. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $92.00 price target (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup currently has an average 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.