Citigroup Inc. (NYSE:C) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. cut its stake in Citigroup Inc. (NYSE:C) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 15,964 shares of the company’s stock after selling 308 shares during the period. Institute for Wealth Management LLC.’s holdings in Citigroup were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Snider Financial Group grew its position in shares of Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after acquiring an additional 84,407,589 shares during the period. Norges Bank acquired a new stake in Citigroup in the fourth quarter valued at approximately $631,922,000. Moneta Group Investment Advisors LLC increased its position in shares of Citigroup by 87,332.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,511,342 shares of the company’s stock valued at $339,738,000 after buying an additional 7,502,751 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Citigroup during the 4th quarter worth approximately $2,109,120,000. Finally, Greenhaven Associates Inc. lifted its position in shares of Citigroup by 22.4% during the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock valued at $828,868,000 after buying an additional 2,948,512 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.4 %

Shares of C stock opened at $59.15 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $63.90. The company’s 50-day moving average price is $58.30 and its 200-day moving average price is $51.16. The stock has a market cap of $113.29 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.88 and a beta of 1.52.

Citigroup (NYSE:C) last issued its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. Citigroup’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts predict that Citigroup Inc. will post 5.91 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.53 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.58%. Citigroup’s payout ratio is 62.72%.

Wall Street Analyst Weigh In

Several research firms have issued reports on C. BMO Capital Markets downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price objective on the stock. in a report on Wednesday, January 10th. Keefe, Bruyette & Woods lifted their price objective on Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Piper Sandler increased their target price on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $46.00 to $65.00 in a research note on Tuesday, January 30th. Finally, Jefferies Financial Group boosted their price target on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.91.

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.