Ironwood Investment Management LLC Lowers Stake in Citigroup Inc. (NYSE:C)

Ironwood Investment Management LLC lessened its stake in shares of Citigroup Inc. (NYSE:C) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,947 shares of the company’s stock after selling 2,600 shares during the period. Citigroup makes up about 1.2% of Ironwood Investment Management LLC’s investment portfolio, making the stock its 25th largest holding. Ironwood Investment Management LLC’s holdings in Citigroup were worth $2,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in C. MONECO Advisors LLC boosted its holdings in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after purchasing an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in shares of Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares during the last quarter. NorthRock Partners LLC lifted its stake in shares of Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after purchasing an additional 165 shares during the period. Legacy Capital Group California Inc. lifted its stake in shares of Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the period. Finally, Gries Financial LLC boosted its holdings in shares of Citigroup by 3.0% in the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after buying an additional 176 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on C shares. Evercore ISI upped their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group reduced their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Piper Sandler upped their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Argus lifted their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One investment 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 company presently has an average rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Stock Up 0.3 %

Shares of C opened at $61.87 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a market cap of $118.01 billion, a PE ratio of 17.33, a P/E/G ratio of 0.69 and a beta of 1.45. The business has a fifty day moving average of $60.85 and a 200 day moving average of $61.67.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 EPS. On average, sell-side analysts expect that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.62%. Citigroup’s dividend payout ratio (DPR) 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.