Wealth Alliance Cuts Stock Position in Citigroup Inc. (NYSE:C)

Wealth Alliance cut its holdings in Citigroup Inc. (NYSE:C) by 35.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,276 shares of the company’s stock after selling 3,395 shares during the quarter. Wealth Alliance’s holdings in Citigroup were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in C. Carmel Capital Partners LLC purchased a new stake in shares of Citigroup in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. increased its position in shares of Citigroup by 73.8% during the third quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after purchasing an additional 290 shares in the last quarter. SkyView Investment Advisors LLC purchased a new stake in shares of Citigroup during the first quarter worth approximately $28,000. AlphaMark Advisors LLC increased its position in shares of Citigroup by 75.0% during the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its position in shares of Citigroup by 115.0% during the third quarter. Janiczek Wealth Management LLC now owns 802 shares of the company’s stock worth $33,000 after purchasing an additional 429 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of Citigroup stock opened at $58.32 on Friday. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $63.90. The business’s fifty day simple moving average is $58.19 and its 200-day simple moving average is $51.03. The firm has a market cap of $111.70 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s payout ratio is 62.72%.

Analyst Upgrades and Downgrades

C has been the subject of several research reports. BMO Capital Markets cut Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target for the company. in a research report on Wednesday, January 10th. Societe Generale cut Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, January 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Finally, Barclays boosted their price objective on Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.