Citigroup Inc. (NYSE:C) Shares Sold by Brookstone Capital Management

Brookstone Capital Management reduced its stake in Citigroup Inc. (NYSE:C) by 97.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,260 shares of the company’s stock after selling 267,300 shares during the quarter. Brookstone Capital Management’s holdings in Citigroup were worth $522,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Citigroup in the 4th quarter valued at approximately $867,599,000. International Assets Investment Management LLC acquired a new position in Citigroup during the 4th quarter worth $2,109,120,000. Greenhaven Associates Inc. increased its holdings in Citigroup by 22.4% during the 4th 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. Los Angeles Capital Management LLC raised its position in Citigroup by 873.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock valued at $135,262,000 after purchasing an additional 1,919,170 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Citigroup by 8.0% in 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 purchasing an additional 1,836,283 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $80.00 target price on shares of Citigroup in a report on Monday, April 1st. Oppenheimer reduced their price objective on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Citigroup in a report on Thursday, June 20th. Jefferies Financial Group lifted their price target on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Piper Sandler increased their price objective on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.03.

Citigroup Price Performance

Shares of NYSE:C opened at $63.46 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average price of $62.06 and a 200 day moving average price of $57.99. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $64.98. The company has a market cap of $121.05 billion, a P/E ratio of 18.78, a PEG ratio of 0.97 and a beta of 1.48.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The company 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 quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 earnings per share. Research analysts predict that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

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