Pinnacle Bancorp Inc. Sells 481 Shares of Citigroup Inc. (NYSE:C)

Pinnacle Bancorp Inc. reduced its position in Citigroup Inc. (NYSE:C) by 16.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,439 shares of the company’s stock after selling 481 shares during the period. Pinnacle Bancorp Inc.’s holdings in Citigroup were worth $173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Citigroup by 1.7% during 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 acquiring an additional 667,357 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 purchasing an additional 815,003 shares during the last quarter. FMR LLC lifted its position in Citigroup by 29.7% during the fourth 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. boosted its holdings in Citigroup by 9.3% in the fourth 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 during the last quarter. Finally, Capital World Investors grew its position 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 owned by institutional investors.

Citigroup Trading Up 1.8%

Citigroup stock opened at $82.64 on Thursday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The firm has a market capitalization of $154.35 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.63 and a beta of 1.33. The firm has a 50 day moving average of $73.68 and a 200 day moving average of $73.45. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last posted 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 during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. As a group, research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.71%. Citigroup’s dividend payout ratio is presently 35.39%.

Insider Activity

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

Analyst Ratings Changes

Several research firms have recently weighed in on C. Oppenheimer reissued an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a report on Tuesday. Cowen initiated coverage on Citigroup in a research note on Wednesday, May 14th. They set a “hold” rating for the company. Piper Sandler reiterated an “overweight” rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada dropped their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.30.

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.