Amalgamated Bank Reduces Stock Holdings in Citigroup Inc. (NYSE:C)

Amalgamated Bank lessened its position in shares of Citigroup Inc. (NYSE:C) by 2.7% during the 3rd quarter, Holdings Channel reports. The firm owned 375,273 shares of the company’s stock after selling 10,441 shares during the quarter. Amalgamated Bank’s holdings in Citigroup were worth $23,492,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Citigroup in the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup during the third quarter worth about $28,000. Beacon Capital Management LLC increased its position in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup during the second quarter worth about $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Citigroup during the second quarter worth about $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $62.35 on Tuesday. The stock has a market cap of $118.95 billion, a P/E ratio of 18.07, a PEG ratio of 0.71 and a beta of 1.44. The company’s 50-day simple moving average is $61.98 and its 200 day simple moving average is $62.19. Citigroup Inc. has a twelve month low of $41.28 and a twelve month high of $67.81. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts forecast that Citigroup Inc. will post 5.87 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.59%. Citigroup’s payout ratio is 64.93%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Barclays lifted their price objective on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Oppenheimer cut their price target on Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets upped their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.06.

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.