Axxcess Wealth Management LLC Purchases 1,321 Shares of Citigroup Inc. (NYSE:C)

Axxcess Wealth Management LLC boosted its position in shares of Citigroup Inc. (NYSE:C) by 2.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,300 shares of the company’s stock after buying an additional 1,321 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Citigroup were worth $3,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new position in Citigroup in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in Citigroup in the 3rd quarter worth $28,000. Beacon Capital Management LLC raised its holdings in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Citigroup in the 2nd quarter worth $31,000. Finally, Triad Wealth Partners LLC bought a new position in Citigroup in the 2nd quarter worth $32,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of C stock opened at $68.63 on Monday. Citigroup Inc. has a one year low of $41.28 and a one year high of $70.09. The company’s 50-day moving average is $62.42 and its 200 day moving average is $62.36. The company has a market capitalization of $130.93 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS. Sell-side analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s payout ratio is presently 64.93%.

Wall Street Analyst Weigh In

C has been the subject of several research reports. Piper Sandler upped their price objective on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Evercore ISI upped their price objective on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Oppenheimer upped their target price on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley reduced their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Argus upped their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $72.06.

About Citigroup

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.