Citigroup Inc. (NYSE:C) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC cut its holdings in Citigroup Inc. (NYSE:C) by 19.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,229 shares of the company’s stock after selling 290 shares during the period. Fortitude Family Office LLC’s holdings in Citigroup were worth $87,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Citigroup in the 4th quarter valued at about $10,400,000. Kingsview Wealth Management LLC lifted its stake in Citigroup by 4.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 16,946 shares of the company’s stock worth $1,193,000 after purchasing an additional 760 shares during the last quarter. Empowered Funds LLC boosted its holdings in Citigroup by 18.1% in the fourth quarter. Empowered Funds LLC now owns 48,607 shares of the company’s stock valued at $3,421,000 after purchasing an additional 7,436 shares in the last quarter. Finally, Salzhauer Michael increased its stake in Citigroup by 50.2% in the fourth quarter. Salzhauer Michael now owns 393,650 shares of the company’s stock valued at $27,709,000 after purchasing an additional 131,505 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

Citigroup stock opened at $78.43 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $70.26 and a 200-day simple moving average of $72.91. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The stock has a market capitalization of $146.49 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors 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 annualized dividend and a yield of 2.86%. Citigroup’s dividend payout ratio is currently 35.39%.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction 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 sale, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on C. Cowen initiated coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a “hold” rating for the company. Piper Sandler reissued an “overweight” rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Truist Financial dropped their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their target price on Citigroup from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 target price (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.30.

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.