Citigroup Inc. (NYSE:C) Position Reduced by Courier Capital LLC

Courier Capital LLC cut its position in shares of Citigroup Inc. (NYSE:C) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,928 shares of the company’s stock after selling 1,028 shares during the quarter. Courier Capital LLC’s holdings in Citigroup were worth $3,663,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Citigroup in the fourth quarter worth $867,599,000. International Assets Investment Management LLC bought a new position in Citigroup in the fourth quarter worth $2,109,120,000. Greenhaven Associates Inc. lifted its position in Citigroup by 22.4% in the fourth quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after purchasing an additional 2,948,512 shares during the period. AQR Capital Management LLC lifted its position in Citigroup by 42.4% in the third quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock worth $266,709,000 after purchasing an additional 1,930,296 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Citigroup by 873.6% during the first quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock valued at $135,262,000 after acquiring an additional 1,919,170 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Citigroup in a report on Thursday, June 20th. HSBC raised their target price on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Evercore ISI raised their target price on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Royal Bank of Canada lifted their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Finally, Piper Sandler lifted their price objective on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.03.

Citigroup Stock Performance

C stock traded up $1.91 during trading hours on Friday, hitting $63.46. 19,836,789 shares of the stock were exchanged, compared to its average volume of 15,086,910. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $121.05 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.94 and a beta of 1.48. The company has a 50-day simple moving average of $61.98 and a two-hundred day simple moving average of $57.75. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $64.98.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 EPS. On average, analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Citigroup Company 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.