First PREMIER Bank Sells 1,346 Shares of Citigroup Inc. (NYSE:C)

First PREMIER Bank decreased its holdings in Citigroup Inc. (NYSE:C) by 11.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,318 shares of the company’s stock after selling 1,346 shares during the quarter. First PREMIER Bank’s holdings in Citigroup were worth $655,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after acquiring an additional 164 shares during the period. NorthRock Partners LLC raised its stake in shares of Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after acquiring an additional 165 shares during the period. Family Legacy Inc. increased its stake in Citigroup by 2.9% in the 1st quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock worth $400,000 after buying an additional 179 shares during the period. Accel Wealth Management increased its stake in Citigroup by 3.9% in the 1st quarter. Accel Wealth Management now owns 4,919 shares of the company’s stock worth $311,000 after buying an additional 185 shares during the period. Finally, Fulton Bank N.A. increased its stake in Citigroup by 1.4% in the 2nd quarter. Fulton Bank N.A. now owns 13,984 shares of the company’s stock worth $887,000 after buying an additional 187 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C stock traded up $1.24 during trading on Thursday, reaching $60.53. The company had a trading volume of 14,157,771 shares, compared to its average volume of 15,004,483. The firm has a 50-day simple moving average of $62.26 and a 200-day simple moving average of $60.47. The company has a market cap of $115.45 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same period last year, the business earned $1.37 EPS. Citigroup’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 3.70%. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

C has been the topic of several recent analyst reports. Royal Bank of Canada raised their price target on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Evercore ISI raised their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. BMO Capital Markets raised their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer increased their target price on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Piper Sandler increased their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.06.

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.