Institute for Wealth Management LLC. Trims Stock Position in Citigroup Inc. (NYSE:C)

Institute for Wealth Management LLC. reduced its stake in Citigroup Inc. (NYSE:C) by 1.1% during the 1st quarter, HoldingsChannel reports. The firm owned 17,686 shares of the company’s stock after selling 189 shares during the period. Institute for Wealth Management LLC.’s holdings in Citigroup were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its holdings in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after purchasing an additional 11,674 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Citigroup by 13.8% in the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock valued at $1,143,633,000 after buying an additional 1,970,300 shares during the period. Candriam S.C.A. lifted its holdings in shares of Citigroup by 12.7% in the 4th quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock valued at $14,139,000 after buying an additional 22,657 shares during the period. Brighton Jones LLC boosted its stake in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. Finally, Unified Investment Management acquired a new position in Citigroup during the fourth quarter worth $658,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on C. JPMorgan Chase & Co. reduced their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. The Goldman Sachs Group raised their price objective on shares of Citigroup from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Evercore ISI dropped their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, Royal Bank Of Canada decreased their price target on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.30.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now owns 13,048 shares of the company’s stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Trading Up 1.2%

Shares of C opened at $78.28 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The stock has a market cap of $146.20 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. The firm has a 50 day simple moving average of $72.27 and a 200-day simple moving average of $73.21.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s dividend payout ratio is presently 35.39%.

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.