Birmingham Capital Management Co. Inc. AL Reduces Stake in Citigroup Inc. (NYSE:C)

Birmingham Capital Management Co. Inc. AL cut its holdings in shares of Citigroup Inc. (NYSE:C) by 6.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,465 shares of the company’s stock after selling 2,000 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Citigroup were worth $1,806,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of C. Lloyd Advisory Services LLC. grew its holdings in Citigroup by 355.9% during the first quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock worth $1,209,000 after acquiring an additional 14,922 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after purchasing an additional 8,593 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after purchasing an additional 23,774 shares in the last quarter. Capital World Investors lifted its stake in shares of Citigroup by 9.1% in the 4th quarter. Capital World Investors now owns 4,187,362 shares of the company’s stock valued at $215,398,000 after purchasing an additional 350,087 shares during the period. Finally, BDF Gestion purchased a new stake in Citigroup during the second quarter worth $3,861,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 1.2 %

C stock opened at $61.83 on Wednesday. The company has a market cap of $117.94 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.69 and a beta of 1.45. The firm has a 50-day moving average of $60.76 and a two-hundred day moving average of $61.74. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 earnings per share. As a group, analysts forecast that Citigroup Inc. will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Analyst Ratings Changes

C has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Argus increased their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Piper Sandler raised their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Morgan Stanley upped their target price on Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.69.

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.