Axxcess Wealth Management LLC Reduces Holdings in Citigroup Inc. (NYSE:C)

Axxcess Wealth Management LLC lowered its stake in Citigroup Inc. (NYSE:C) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,979 shares of the company’s stock after selling 566 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Citigroup were worth $3,489,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Gryphon Financial Partners LLC lifted its stake in shares of Citigroup by 215.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock valued at $800,000 after buying an additional 10,632 shares during the period. Financial Advocates Investment Management acquired a new stake in Citigroup in the 4th quarter worth about $255,000. ING Groep NV purchased a new stake in Citigroup in the 4th quarter valued at about $226,000. Gladstone Institutional Advisory LLC grew its holdings in Citigroup by 23.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 12,684 shares of the company’s stock valued at $652,000 after buying an additional 2,388 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in shares of Citigroup by 73.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 18,750 shares of the company’s stock valued at $964,000 after acquiring an additional 7,968 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on C shares. The Goldman Sachs Group lowered their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler upped their price objective on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets increased their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Evercore ISI boosted their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada raised their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. One research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Price Performance

C opened at $59.30 on Wednesday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market cap of $113.10 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.62 and a beta of 1.45. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a fifty day simple moving average of $61.54 and a 200 day simple moving average of $61.42.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same period last year, the firm earned $1.37 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.56 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio is 62.75%.

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.