Keudell Morrison Wealth Management Sells 622 Shares of Citigroup Inc. (NYSE:C)

Keudell Morrison Wealth Management lessened its position in Citigroup Inc. (NYSE:C) by 12.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,253 shares of the company’s stock after selling 622 shares during the period. Keudell Morrison Wealth Management’s holdings in Citigroup were worth $266,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after purchasing an additional 17,525,484 shares during the period. Swedbank AB purchased a new position in shares of Citigroup during the first quarter valued at about $253,286,000. Acadian Asset Management LLC raised its stake in Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares in the last quarter. Caxton Associates LP lifted its holdings in Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after buying an additional 1,988,494 shares during the period. Finally, Capital World Investors boosted its position in Citigroup by 26.1% during the 1st quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock valued at $333,929,000 after acquiring an additional 1,092,980 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of several research reports. Bank of America increased their target price on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Argus raised their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. BMO Capital Markets upped their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Piper Sandler lifted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Oppenheimer upped their price objective on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.06.

Citigroup Stock Performance

Shares of C traded down $0.29 during trading hours on Thursday, hitting $68.74. The stock had a trading volume of 3,213,386 shares, compared to its average volume of 14,366,474. Citigroup Inc. has a 12 month low of $41.28 and a 12 month high of $70.09. The stock has a fifty day moving average price of $62.02 and a 200 day moving average price of $62.22. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94. The firm has a market capitalization of $131.14 billion, a PE ratio of 20.01, a PEG ratio of 0.71 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The firm 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%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. Analysts anticipate that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

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.