Truist Financial Corp Sells 75,399 Shares of Citigroup Inc. (NYSE:C)

Truist Financial Corp lessened its holdings in Citigroup Inc. (NYSE:C) by 24.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 227,348 shares of the company’s stock after selling 75,399 shares during the period. Truist Financial Corp’s holdings in Citigroup were worth $11,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Wealth Management raised its holdings in shares of Citigroup by 0.5% in the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after buying an additional 192 shares during the last quarter. Founders Capital Management lifted its position in Citigroup by 12.5% during the 4th quarter. Founders Capital Management now owns 1,800 shares of the company’s stock worth $93,000 after acquiring an additional 200 shares during the period. Cowa LLC grew its stake in Citigroup by 3.1% during the 4th quarter. Cowa LLC now owns 6,600 shares of the company’s stock valued at $340,000 after purchasing an additional 200 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its stake in Citigroup by 0.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock valued at $1,267,000 after purchasing an additional 200 shares during the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of Citigroup by 5.6% in the fourth quarter. CENTRAL TRUST Co now owns 3,841 shares of the company’s stock worth $198,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BMO Capital Markets downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a report on Wednesday, January 10th. Jefferies Financial Group raised their target price on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, January 3rd. Finally, Piper Sandler boosted their price objective on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.85.

Citigroup Stock Up 0.0 %

Shares of NYSE C opened at $61.35 on Thursday. The firm has a market cap of $117.50 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52. The company’s 50-day simple moving average is $59.48 and its 200-day simple moving average is $52.41. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $20.46 billion. During the same period last year, the company posted $1.86 EPS. Citigroup’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post 5.97 EPS for the current fiscal year.

Citigroup Announces Dividend

The company 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 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, May 3rd. 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.