Truist Financial Corp Sells 75,399 Shares of Citigroup Inc. (NYSE:C)

Truist Financial Corp lowered its position in shares of Citigroup Inc. (NYSE:C) by 24.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 227,348 shares of the company’s stock after selling 75,399 shares during the period. Truist Financial Corp’s holdings in Citigroup were worth $11,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Citigroup during the 3rd quarter worth approximately $209,000. Simplicity Solutions LLC increased its stake in Citigroup by 17.6% during the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock worth $1,430,000 after acquiring an additional 4,150 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Citigroup by 56.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after acquiring an additional 449,310 shares in the last quarter. GFS Advisors LLC acquired a new stake in shares of Citigroup during the 4th quarter worth $2,003,000. Finally, Sound Income Strategies LLC increased its position in shares of Citigroup by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after purchasing an additional 21,440 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Up 0.0 %

C opened at $61.35 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The company’s 50 day moving average price is $59.48 and its two-hundred day moving average price is $52.41. The firm has a market capitalization of $117.50 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 0.93 and a beta of 1.52.

Citigroup (NYSE:C) last issued 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 company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. As a group, research analysts predict that Citigroup Inc. will post 5.97 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s payout ratio is presently 62.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler increased 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. Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a research note on Monday, April 1st. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Oppenheimer decreased their price target on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $62.85.

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.