Procyon Advisors LLC Sells 39,298 Shares of Citigroup Inc. (NYSE:C)

Procyon Advisors LLC cut its holdings in Citigroup Inc. (NYSE:C - Free Report) by 79.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,464 shares of the company's stock after selling 39,298 shares during the quarter. Procyon Advisors LLC's holdings in Citigroup were worth $737,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in C. Blair William & Co. IL raised its stake in shares of Citigroup by 3.8% in the 2nd quarter. Blair William & Co. IL now owns 151,630 shares of the company's stock valued at $9,622,000 after acquiring an additional 5,481 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Citigroup by 2.9% in the second quarter. Intech Investment Management LLC now owns 104,407 shares of the company's stock worth $6,626,000 after buying an additional 2,896 shares during the last quarter. Ieq Capital LLC boosted its holdings in shares of Citigroup by 20.9% during the 2nd quarter. Ieq Capital LLC now owns 59,332 shares of the company's stock worth $3,765,000 after buying an additional 10,239 shares during the period. Canada Pension Plan Investment Board boosted its stake in Citigroup by 15.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,738,454 shares of the company's stock valued at $173,782,000 after purchasing an additional 365,140 shares during the period. Finally, King Luther Capital Management Corp grew its position in Citigroup by 46.0% in the 2nd quarter. King Luther Capital Management Corp now owns 110,442 shares of the company's stock worth $7,009,000 after purchasing an additional 34,809 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on C. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a report on Thursday. Bank of America raised their price target on Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a "buy" rating and a $85.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a "buy" rating in a report on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.93.

Citigroup Stock Up 2.0 %

Shares of NYSE C traded up $1.54 during midday trading on Friday, reaching $80.05. The company's stock had a trading volume of 22,070,430 shares, compared to its average volume of 10,393,282. The stock has a 50 day simple moving average of $71.22 and a 200-day simple moving average of $65.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $151.40 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $80.45.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Equities research analysts predict that Citigroup Inc. will post 5.88 earnings per share for the current year.

Citigroup declared that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup's dividend payout ratio is currently 64.93%.

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.