Citigroup Inc. (NYSE:C) Shares Sold by DNB Asset Management AS

Posted by Defense World Staff on Sep 23rd, 2023

DNB Asset Management AS lessened its position in shares of Citigroup Inc. (NYSE:C – Free Report) by 12.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 343,908 shares of the company’s stock after selling 46,802 shares during the period. DNB Asset Management AS’s holdings in Citigroup were worth $15,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC acquired a new position in shares of Citigroup in the 1st quarter valued at $28,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $33,000. Heritage Wealth Management LLC boosted its holdings in shares of Citigroup by 140.1% in the 4th quarter. Heritage Wealth Management LLC now owns 862 shares of the company’s stock valued at $39,000 after buying an additional 503 shares in the last quarter. Arlington Partners LLC boosted its holdings in shares of Citigroup by 81.5% in the 1st quarter. Arlington Partners LLC now owns 991 shares of the company’s stock valued at $46,000 after buying an additional 445 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its holdings in shares of Citigroup by 83.7% in the 1st quarter. Financial Management Professionals Inc. now owns 1,001 shares of the company’s stock valued at $47,000 after buying an additional 456 shares in the last quarter. Institutional investors and hedge funds own 69.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler reduced their price target on shares of Citigroup from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, September 15th. Royal Bank of Canada reduced their price target on shares of Citigroup from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday. Bank of America upped their price target on shares of Citigroup from $58.00 to $60.00 in a research report on Monday, June 5th. Societe Generale downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, HSBC assumed coverage on shares of Citigroup in a research report on Thursday, September 7th. They issued a “hold” rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has a consensus rating of “Hold” and an average price target of $52.75.

Check Out Our Latest Analysis on C

Citigroup Stock Performance

Shares of C opened at $40.92 on Friday. The company has a 50-day simple moving average of $43.70 and a 200-day simple moving average of $45.60. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $79.66 billion, a PE ratio of 6.48, a P/E/G ratio of 1.66 and a beta of 1.57. Citigroup Inc. has a 52-week low of $40.01 and a 52-week high of $53.23.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings results on Friday, July 14th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $19.34 billion. Citigroup had a net margin of 10.24% and a return on equity of 6.80%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 EPS. Equities research analysts predict that Citigroup Inc. will post 5.73 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.18%. This is a boost from Citigroup’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 4th. Citigroup’s dividend payout ratio is presently 33.60%.

About Citigroup

(Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.