Citigroup Inc. (NYSE:C) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its stake in shares of Citigroup Inc. (NYSE:C) by 13.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,664 shares of the company’s stock after selling 1,024 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Citigroup were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of C. Quarry LP acquired a new stake in shares of Citigroup in the fourth quarter worth $48,000. GLOBALT Investments LLC GA acquired a new stake in Citigroup during the fourth quarter valued at $556,000. Sierra Summit Advisors LLC purchased a new position in Citigroup during the fourth quarter valued at $204,000. Richardson Financial Services Inc. purchased a new position in Citigroup during the fourth quarter valued at $110,000. Finally, Wellington Management Group LLP lifted its holdings in Citigroup by 86.8% during the fourth quarter. Wellington Management Group LLP now owns 2,206,189 shares of the company’s stock valued at $113,486,000 after purchasing an additional 1,025,422 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C opened at $65.74 on Monday. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The stock has a market cap of $125.42 billion, a PE ratio of 18.41, a P/E/G ratio of 0.74 and a beta of 1.44. The firm has a 50-day simple moving average of $60.66 and a two-hundred day simple moving average of $61.88. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same period last year, the business earned $1.37 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts forecast that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.41%. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

Several research firms have issued reports on C. Royal Bank of Canada increased their price objective on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Oppenheimer increased their price objective on shares of Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Piper Sandler raised their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. BMO Capital Markets raised their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group decreased their price target 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. One 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. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

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.