Citigroup Inc. (NYSE:C) Stock Position Lowered by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV reduced its position in shares of Citigroup Inc. (NYSE:C) by 6.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,658 shares of the company’s stock after selling 1,418 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Citigroup were worth $1,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Citigroup in the 3rd quarter worth $209,000. Simplicity Solutions LLC grew its holdings in shares of Citigroup by 17.6% during the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after buying an additional 4,150 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Citigroup by 56.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after purchasing an additional 449,310 shares during the period. GFS Advisors LLC purchased a new stake in Citigroup in the 4th quarter worth approximately $2,003,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Citigroup by 9.1% during the fourth quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after acquiring an additional 21,440 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on C shares. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Wednesday, January 3rd. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Evercore ISI raised their target price on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Wells Fargo & Company reissued an “overweight” rating and set a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. Finally, Barclays lifted their price target on shares of Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One equities 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.91.

Citigroup Price Performance

Shares of NYSE C traded down $0.69 during midday trading on Thursday, reaching $61.78. 13,330,685 shares of the company traded hands, compared to its average volume of 17,043,361. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day simple moving average is $58.94 and its 200-day simple moving average is $51.77. The firm has a market cap of $118.33 billion, a PE ratio of 18.28, a PEG ratio of 0.94 and a beta of 1.52.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Citigroup Inc. will post 5.97 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.43%. Citigroup’s payout ratio is 62.72%.

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.