Pinnacle Wealth Management Advisory Group LLC Trims Stake in Citigroup Inc. (NYSE:C)

Pinnacle Wealth Management Advisory Group LLC trimmed its position in Citigroup Inc. (NYSE:C) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,922 shares of the company’s stock after selling 1,739 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Citigroup were worth $819,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in shares of Citigroup by 8.0% in the 4th quarter. Fisher Asset Management LLC now owns 24,751,813 shares of the company’s stock valued at $1,273,233,000 after acquiring an additional 1,832,819 shares during the period. Northern Trust Corp raised its holdings in Citigroup by 1.2% in the third quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock worth $824,710,000 after purchasing an additional 232,652 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Citigroup by 3.0% during the third quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock valued at $683,886,000 after buying an additional 486,952 shares during the last quarter. Greenhaven Associates Inc. boosted its holdings in shares of Citigroup by 22.4% in the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock valued at $828,868,000 after buying an additional 2,948,512 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Citigroup by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,146,772 shares of the company’s stock worth $727,710,000 after buying an additional 395,571 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.2 %

Shares of NYSE:C traded up $0.75 during midday trading on Wednesday, reaching $62.75. 9,754,241 shares of the company’s stock were exchanged, compared to its average volume of 16,539,840. The firm’s 50 day simple moving average is $59.98 and its two-hundred day simple moving average is $53.10. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $120.18 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. As a group, sell-side analysts forecast that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on C shares. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, April 5th. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Oppenheimer cut their target price on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. Piper Sandler boosted their price target on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $46.00 to $65.00 in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $62.85.

Citigroup 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.