Nisa Investment Advisors LLC Decreases Stake in Citigroup Inc. (NYSE:C)

Nisa Investment Advisors LLC trimmed its position in shares of Citigroup Inc. (NYSE:C) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 497,362 shares of the company’s stock after selling 9,894 shares during the period. Nisa Investment Advisors LLC’s holdings in Citigroup were worth $31,563,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in shares of Citigroup during the 4th quarter worth $26,000. Frazier Financial Advisors LLC purchased a new stake in Citigroup during the 4th quarter worth about $29,000. Beacon Capital Management LLC boosted its position in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC increased its holdings in shares of Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Citigroup during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE C traded up $0.38 during trading on Monday, hitting $61.78. 6,008,965 shares of the company were exchanged, compared to its average volume of 14,918,120. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The company has a market cap of $117.84 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.68 and a beta of 1.46. The firm’s fifty day moving average price is $62.25 and its 200 day moving average price is $60.58. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95.

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

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. Citigroup’s dividend payout ratio is presently 62.75%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on C. Morgan Stanley upped their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Piper Sandler increased their target price 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. Oppenheimer upped their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $68.06.

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.