Trust Co. of Oklahoma Trims Stake in Citigroup Inc. (NYSE:C)

Trust Co. of Oklahoma cut its holdings in shares of Citigroup Inc. (NYSE:C) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,125 shares of the company’s stock after selling 902 shares during the quarter. Trust Co. of Oklahoma’s holdings in Citigroup were worth $420,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Panagora Asset Management Inc. boosted its position in shares of Citigroup by 24.5% during the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock valued at $1,589,000 after buying an additional 5,853 shares during the period. Zions Bancorporation N.A. lifted its position in shares of Citigroup by 50.5% during the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock worth $334,000 after purchasing an additional 2,100 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Citigroup by 20.8% during the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock valued at $282,000 after purchasing an additional 907 shares during the period. Ergoteles LLC purchased a new position in Citigroup in the 1st quarter worth about $761,000. Finally, Halbert Hargrove Global Advisors LLC lifted its holdings in Citigroup by 7.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock valued at $218,000 after buying an additional 268 shares in the last quarter. 69.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on C shares. Wells Fargo & Company reduced their price target on Citigroup from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. Keefe, Bruyette & Woods decreased their price objective on shares of Citigroup from $50.00 to $48.00 in a research report on Thursday, May 25th. Oppenheimer cut their price target on shares of Citigroup from $88.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Piper Sandler cut their price objective on Citigroup from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday. Finally, StockNews.com assumed coverage on Citigroup in a report on Thursday, August 17th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Hold” and an average target price of $53.00.

Citigroup Stock Down 0.2 %

Shares of C stock traded down $0.07 during trading hours on Monday, reaching $42.64. 2,613,003 shares of the stock were exchanged, compared to its average volume of 17,414,049. Citigroup Inc. has a 12-month low of $40.01 and a 12-month high of $53.23. The business’s fifty day moving average is $44.15 and its two-hundred day moving average is $45.86. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $83.01 billion, a P/E ratio of 6.77, a P/E/G ratio of 1.66 and a beta of 1.57.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $19.44 billion for 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 company’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $2.30 EPS. As a group, research analysts expect that Citigroup Inc. will post 5.75 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were issued a $0.53 dividend. The ex-dividend date was Friday, August 4th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.97%. This is a positive change from Citigroup’s previous quarterly dividend of $0.51. Citigroup’s payout ratio is presently 33.60%.

Citigroup Company Profile

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.