River Global Investors LLP Trims Stake in Citigroup Inc. (NYSE:C)

River Global Investors LLP trimmed its position in shares of Citigroup Inc. (NYSE:C) by 7.4% during the fourth quarter, HoldingsChannel reports. The firm owned 165,525 shares of the company’s stock after selling 13,141 shares during the quarter. Citigroup comprises 1.6% of River Global Investors LLP’s portfolio, making the stock its 9th largest holding. River Global Investors LLP’s holdings in Citigroup were worth $8,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. TCG Advisory Services LLC bought a new position in shares of Citigroup during the fourth quarter worth $611,000. Vestmark Advisory Solutions Inc. bought a new stake in Citigroup in the 4th quarter valued at $346,000. AJOVista LLC bought a new stake in Citigroup in the 4th quarter valued at $180,000. VeraBank N.A. bought a new stake in Citigroup in the 4th quarter valued at $230,000. Finally, Legacy Financial Advisors Inc. bought a new stake in Citigroup in the 4th quarter valued at $203,000. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

C stock traded up $0.51 during mid-day trading on Friday, hitting $61.52. 11,048,877 shares of the company were exchanged, compared to its average volume of 15,112,875. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90. The business has a 50 day simple moving average of $59.70 and a 200-day simple moving average of $52.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $117.83 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.29. The business 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%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 EPS. On average, equities analysts forecast that Citigroup Inc. will post 5.98 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio is 62.72%.

Analysts Set New Price Targets

Several research firms recently commented on C. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Oppenheimer cut their price objective on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday. BMO Capital Markets lowered shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.85.

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.