Salem Investment Counselors Inc. Sells 1,095 Shares of Citigroup Inc. (NYSE:C)

Salem Investment Counselors Inc. reduced its position in Citigroup Inc. (NYSE:C) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,580 shares of the company’s stock after selling 1,095 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Citigroup were worth $2,434,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Lifestyle Asset Management Inc. raised its holdings in shares of Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares in the last quarter. Grove Bank & Trust raised its stake in Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after purchasing an additional 170 shares in the last quarter. MWA Asset Management lifted its position in Citigroup by 1.4% during the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares during the last quarter. Bridge Creek Capital Management LLC grew its stake in Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after buying an additional 175 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Citigroup by 9.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock worth $128,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of Citigroup stock opened at $72.94 on Tuesday. The company’s fifty day simple moving average is $70.40 and its two-hundred day simple moving average is $65.15. Citigroup Inc. has a 12-month low of $50.51 and a 12-month high of $74.29. The firm has a market cap of $137.95 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. As a group, equities analysts expect that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.07%. Citigroup’s dividend payout ratio is currently 64.93%.

Analyst Ratings Changes

C has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their target price on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Evercore ISI increased their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $80.13.

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.