Eagle Rock Investment Company LLC Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

Eagle Rock Investment Company LLC lowered its stake in shares of Citigroup Inc. (NYSE:C) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,034 shares of the company’s stock after selling 929 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Citigroup were worth $4,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in C. True Wealth Design LLC boosted its holdings in Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $84,000 after purchasing an additional 119 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock valued at $459,000 after purchasing an additional 120 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC boosted its holdings in Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after purchasing an additional 135 shares during the last quarter. Hemington Wealth Management boosted its holdings in Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now directly owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on C shares. Cowen started coverage on Citigroup in a report on Wednesday, May 14th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada reduced their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group reduced their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.97.

Citigroup Stock Up 2.2%

Shares of Citigroup stock opened at $78.32 on Friday. 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 business’s 50 day simple moving average is $69.43 and its 200-day simple moving average is $72.72. The stock has a market capitalization of $146.28 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for 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%. Equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

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

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.