Citigroup Inc. (NYSE:C) Position Reduced by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. cut its position in shares of Citigroup Inc. (NYSE:C) by 6.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,849 shares of the company’s stock after selling 1,419 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Citigroup were worth $1,318,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Wealth Management lifted its position in shares of Citigroup by 0.5% in the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after purchasing an additional 192 shares in the last quarter. Founders Capital Management lifted its position in shares of Citigroup by 12.5% in the fourth quarter. Founders Capital Management now owns 1,800 shares of the company’s stock worth $93,000 after purchasing an additional 200 shares in the last quarter. Cowa LLC lifted its position in shares of Citigroup by 3.1% in the fourth quarter. Cowa LLC now owns 6,600 shares of the company’s stock worth $340,000 after purchasing an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Citigroup by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock worth $1,267,000 after purchasing an additional 200 shares in the last quarter. Finally, Rossmore Private Capital increased its holdings in Citigroup by 1.5% in the fourth quarter. Rossmore Private Capital now owns 13,800 shares of the company’s stock worth $710,000 after buying an additional 200 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Jefferies Financial Group increased their price objective on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods increased their price objective on Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Piper Sandler increased their price objective on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Evercore ISI increased their price objective on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.84.

Citigroup Trading Up 1.2 %

Shares of Citigroup stock opened at $60.81 on Wednesday. The company’s fifty day simple moving average is $61.68 and its 200-day simple moving average is $57.24. The company has a market cap of $115.99 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.90 and a beta of 1.48. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $64.98.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.29. The business had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $1.86 earnings per share. As a group, sell-side analysts expect that Citigroup Inc. will post 5.96 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.49%. Citigroup’s dividend payout ratio (DPR) is currently 62.72%.

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.