Chevy Chase Trust Holdings LLC Sells 7,863 Shares of Citigroup Inc. (NYSE:C)

Chevy Chase Trust Holdings LLC reduced its stake in Citigroup Inc. (NYSE:C) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 992,007 shares of the company’s stock after selling 7,863 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Citigroup were worth $70,423,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after purchasing an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Citigroup by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the period. FMR LLC raised its holdings in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the period. Franklin Resources Inc. increased its stake in Citigroup by 9.3% in the 4th 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 in the last quarter. Finally, Capital World Investors increased its stake 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 buying an additional 25,705,141 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Up 1.2%

Shares of Citigroup stock opened at $79.42 on Tuesday. The firm has a market cap of $148.34 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 0.60 and a beta of 1.33. The business has a 50-day moving average price of $72.93 and a 200-day moving average price of $73.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s payout ratio is 35.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen assumed coverage on Citigroup in a research note on Thursday, May 15th. They issued a “hold” rating and a $83.00 price target for the company. The Goldman Sachs Group increased their price target on Citigroup from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Truist Financial cut their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Piper Sandler reiterated an “overweight” rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Evercore ISI cut their price target on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research note on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.30.

Insider Activity at Citigroup

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

Citigroup 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.