Summit Global Investments Sells 4,274 Shares of Citigroup Inc. (NYSE:C)

Summit Global Investments reduced its holdings in Citigroup Inc. (NYSE:C) by 34.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,253 shares of the company’s stock after selling 4,274 shares during the quarter. Summit Global Investments’ holdings in Citigroup were worth $425,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in C. Brown Advisory Inc. increased its holdings in shares of Citigroup by 4.8% in the third quarter. Brown Advisory Inc. now owns 181,637 shares of the company’s stock worth $7,471,000 after purchasing an additional 8,244 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Citigroup by 14.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 770,806 shares of the company’s stock valued at $31,703,000 after buying an additional 94,423 shares during the period. BluePath Capital Management LLC purchased a new position in shares of Citigroup during the third quarter valued at approximately $104,000. Mackenzie Financial Corp lifted its stake in shares of Citigroup by 1.3% during the 3rd quarter. Mackenzie Financial Corp now owns 1,395,760 shares of the company’s stock worth $55,635,000 after acquiring an additional 17,784 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in Citigroup by 21.6% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 64,878 shares of the company’s stock valued at $2,668,000 after acquiring an additional 11,546 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. 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 report on Thursday, April 4th. StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Societe Generale lowered shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Finally, BMO Capital Markets lowered shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price objective on the stock. in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.85.

Citigroup Stock Down 0.0 %

Citigroup stock opened at $61.52 on Monday. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $63.90. 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 company’s 50-day moving average price is $59.70 and its two-hundred day moving average price is $52.79. The stock has a market cap of $117.83 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. The business had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. Citigroup’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.86 earnings per share. On average, analysts expect that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is 62.72%.

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.