White Pine Capital LLC Reduces Stake in Citigroup Inc. (NYSE:C)

White Pine Capital LLC trimmed its stake in Citigroup Inc. (NYSE:C) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,906 shares of the company’s stock after selling 1,631 shares during the quarter. White Pine Capital LLC’s holdings in Citigroup were worth $1,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Carmel Capital Partners LLC purchased a new stake in shares of Citigroup during the 3rd quarter valued at approximately $25,000. GHP Investment Advisors Inc. lifted its stake in shares of Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock valued at $28,000 after buying an additional 290 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in shares of Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Citigroup during the 3rd quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Citigroup during the 4th quarter valued at approximately $35,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 target price on shares of Citigroup in a research note on Monday, April 1st. Barclays increased their target price on shares of Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Finally, Jefferies Financial Group increased their target price on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.91.

Citigroup Stock Up 1.4 %

NYSE C traded up $0.87 during trading hours on Friday, reaching $62.66. 16,364,096 shares of the company’s stock traded hands, compared to its average volume of 14,990,358. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90. The firm has a market cap of $120.01 billion, a PE ratio of 18.54, a PEG ratio of 0.93 and a beta of 1.52. The firm has a 50-day simple moving average of $59.09 and a 200 day simple moving average of $51.92. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last released its quarterly earnings data 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. The business had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $1.86 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 5.97 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.38%. Citigroup’s dividend payout ratio is currently 62.72%.

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.