Citigroup Inc. (NYSE:C) Shares Sold by Bailard Inc.

Bailard Inc. trimmed its position in shares of Citigroup Inc. (NYSE:C) by 6.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,187 shares of the company’s stock after selling 4,672 shares during the period. Bailard Inc.’s holdings in Citigroup were worth $4,557,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of C. Orion Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup during the first quarter valued at approximately $28,000. American National Bank & Trust bought a new position in Citigroup in the 1st quarter valued at approximately $29,000. Mascagni Wealth Management Inc. bought a new position in Citigroup in the 4th quarter valued at approximately $34,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Citigroup by 68.2% during the first quarter. Cornerstone Planning Group LLC now owns 577 shares of the company’s stock valued at $38,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 3.4%

NYSE:C opened at $93.10 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $93.69. The business’s fifty day moving average price is $79.99 and its 200 day moving average price is $75.29. The firm has a market capitalization of $173.88 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.70 and a beta of 1.34.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This is a boost from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.58%. Citigroup’s dividend payout ratio is presently 33.09%.

Wall Street Analyst Weigh In

C has been the subject of several research reports. JPMorgan Chase & Co. cut their target price 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. Bank of America boosted their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Citigroup in a research report on Wednesday. Evercore ISI set a $77.00 price target on Citigroup in a research note on Monday, July 7th. Finally, Truist Financial lifted their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.46.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director directly owned 13,048 shares in the company, 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 at this link. Insiders own 0.08% of the company’s stock.

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.