Sheaff Brock Investment Advisors LLC Sells 1,020 Shares of Citigroup Inc. (NYSE:C)

Sheaff Brock Investment Advisors LLC decreased its holdings in Citigroup Inc. (NYSE:C) by 5.9% during the 1st quarter, HoldingsChannel reports. The firm owned 16,266 shares of the company’s stock after selling 1,020 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Citigroup were worth $1,029,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in shares of Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after purchasing an additional 4,620,867 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after acquiring an additional 1,836,283 shares in the last quarter. Putnam Investments LLC boosted its holdings in shares of Citigroup by 7.9% during the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after acquiring an additional 1,300,520 shares in the last quarter. Norges Bank acquired a new stake in shares of Citigroup during the 4th quarter valued at $867,599,000. Finally, Pzena Investment Management LLC boosted its holdings in shares of Citigroup by 1.3% during the 4th quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock valued at $866,797,000 after acquiring an additional 223,206 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the topic of several recent research reports. Oppenheimer raised their price objective on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Piper Sandler raised their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Wells Fargo & Company reissued an “overweight” rating and set a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. Royal Bank of Canada raised their price objective on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, HSBC lifted their target price on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.25.

Citigroup Trading Up 1.3 %

Shares of C stock traded up $0.83 during mid-day trading on Friday, hitting $65.20. The company’s stock had a trading volume of 9,660,079 shares, compared to its average volume of 14,886,778. The company’s fifty day simple moving average is $63.03 and its 200-day simple moving average is $59.69. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94. The company has a market cap of $124.37 billion, a PE ratio of 18.26, a P/E/G ratio of 0.69 and a beta of 1.46.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Citigroup Inc. will post 5.84 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.44%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

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.