Citigroup Inc. (NYSE:C) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its position in shares of Citigroup Inc. (NYSE:C) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,982 shares of the company’s stock after selling 1,187 shares during the period. Citigroup makes up about 1.0% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 29th largest position. Convergence Investment Partners LLC’s holdings in Citigroup were worth $1,954,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Carmel Capital Partners LLC acquired a new stake in Citigroup during the 3rd quarter worth about $25,000. Rakuten Securities Inc. acquired a new stake in Citigroup during the 4th quarter worth about $35,000. AlphaMark Advisors LLC boosted its position in Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after acquiring an additional 300 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Citigroup during the 4th quarter valued at about $39,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Citigroup by 52.5% during the 4th quarter. Venturi Wealth Management LLC now owns 796 shares of the company’s stock valued at $41,000 after buying an additional 274 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE:C traded up $0.87 during midday trading on Friday, reaching $62.66. 16,364,096 shares of the company’s stock were exchanged, compared to its average volume of 14,990,358. The company’s 50 day simple moving average is $59.09 and its two-hundred day simple moving average is $51.99. The firm has a market capitalization of $120.01 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 0.94 and a beta of 1.52. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same period last year, the firm posted $1.86 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post 5.97 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on C shares. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, January 3rd. Wells Fargo & Company restated an “overweight” rating and issued a $80.00 target price on shares of Citigroup in a report on Monday, April 1st. Finally, Evercore ISI boosted their target price on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.91.

About Citigroup

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.