SeaBridge Investment Advisors LLC Sells 39,521 Shares of Citigroup Inc. (NYSE:C)

SeaBridge Investment Advisors LLC lowered its position in shares of Citigroup Inc. (NYSE:C) by 39.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 61,441 shares of the company’s stock after selling 39,521 shares during the quarter. Citigroup makes up about 1.4% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 20th biggest holding. SeaBridge Investment Advisors LLC’s holdings in Citigroup were worth $4,347,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Jackson Hole Capital Partners LLC increased its stake in Citigroup by 0.5% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 29,439 shares of the company’s stock worth $2,142,000 after buying an additional 134 shares in the last quarter. Smith Asset Management Group LP grew its position in shares of Citigroup by 15.7% during the first quarter. Smith Asset Management Group LP now owns 1,061 shares of the company’s stock valued at $77,000 after purchasing an additional 144 shares in the last quarter. First National Corp MA ADV grew its position in shares of Citigroup by 2.8% during the first quarter. First National Corp MA ADV now owns 5,296 shares of the company’s stock valued at $385,000 after purchasing an additional 144 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of Citigroup by 3.9% in the 1st quarter. Prime Capital Investment Advisors LLC now owns 3,959 shares of the company’s stock valued at $288,000 after acquiring an additional 150 shares during the last quarter. Finally, Cooper Financial Group lifted its holdings in shares of Citigroup by 2.1% in the 1st quarter. Cooper Financial Group now owns 7,656 shares of the company’s stock valued at $557,000 after acquiring an additional 154 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:C traded up $1.30 on Wednesday, hitting $70.08. 692,893 shares of the company were exchanged, compared to its average volume of 19,533,953. Citigroup Inc. has a 1-year low of $40.49 and a 1-year high of $80.29. The stock’s 50 day moving average price is $69.90 and its 200 day moving average price is $72.15. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $142.04 billion, a P/E ratio of 7.08, a price-to-earnings-growth ratio of 0.87 and a beta of 1.91.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 13th. The company reported $2.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.91. Citigroup had a net margin of 27.21% and a return on equity of 12.10%. The business had revenue of $17.50 billion during the quarter, compared to the consensus estimate of $17.18 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post 9.97 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Monday, August 2nd were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. Citigroup’s payout ratio is currently 41.80%.

C has been the subject of several analyst reports. Royal Bank of Canada reissued a “buy” rating and issued a $73.00 price objective on shares of Citigroup in a research note on Wednesday, July 7th. Morgan Stanley raised their price objective on shares of Citigroup from $89.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Piper Sandler decreased their price objective on shares of Citigroup from $95.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, July 15th. Wells Fargo & Company raised their price objective on shares of Citigroup from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 8th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Citigroup in a research note on Wednesday, July 7th. They set an “outperform” rating and a $85.00 price target for the company. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $79.97.

About Citigroup

Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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