Summitry LLC Has $506,000 Stock Position in Citigroup Inc. (NYSE:C)

Summitry LLC reduced its holdings in shares of Citigroup Inc. (NYSE:C – Get Rating) by 98.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,469 shares of the company’s stock after selling 553,146 shares during the quarter. Summitry LLC’s holdings in Citigroup were worth $506,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Outfitter Financial LLC bought a new position in shares of Citigroup during the fourth quarter valued at about $30,000. FSB Premier Wealth Management Inc. bought a new position in shares of Citigroup during the fourth quarter valued at about $31,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Citigroup during the fourth quarter valued at about $31,000. AHL Investment Management Inc. bought a new position in shares of Citigroup during the fourth quarter valued at about $32,000. Finally, Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Citigroup by 98.1% during the fourth quarter. Valley Forge Investment Consultants Inc. ADV now owns 535 shares of the company’s stock valued at $32,000 after purchasing an additional 265 shares in the last quarter. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

NYSE:C traded up $0.37 during mid-day trading on Friday, hitting $51.63. 438,712 shares of the stock traded hands, compared to its average volume of 21,552,974. The business’s 50-day moving average price is $49.32 and its 200 day moving average price is $54.17. The company has a market cap of $102.27 billion, a PE ratio of 6.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.60. Citigroup Inc. has a 12-month low of $43.44 and a 12-month high of $74.64. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.43.

Citigroup (NYSE:C – Get Rating) last released its quarterly earnings results on Friday, July 15th. The company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.57. Citigroup had a net margin of 20.06% and a return on equity of 10.25%. The business had revenue of $19.64 billion during the quarter, compared to analysts’ expectations of $18.32 billion. During the same quarter in the previous year, the company earned $2.84 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts expect that Citigroup Inc. will post 7.21 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Monday, August 1st will be paid a $0.51 dividend. The ex-dividend date is Friday, July 29th. This represents a $2.04 dividend on an annualized basis and a yield of 3.95%. Citigroup’s dividend payout ratio is presently 26.09%.

Wall Street Analyst Weigh In

C has been the topic of a number of recent analyst reports. Evercore ISI set a $54.00 price target on shares of Citigroup in a research report on Tuesday, July 19th. Royal Bank of Canada lowered their price objective on shares of Citigroup from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, June 27th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Citigroup in a research report on Friday, July 8th. TheStreet lowered shares of Citigroup from a “b-” rating to a “c+” rating in a research report on Tuesday, June 21st. Finally, BMO Capital Markets lowered their price objective on shares of Citigroup from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has an average rating of “Hold” and an average target price of $62.95.

Citigroup Company Profile

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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. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).