Axxcess Wealth Management LLC Sells 1,937 Shares of Citigroup Inc. (NYSE:C)

Axxcess Wealth Management LLC lessened its stake in shares of Citigroup Inc. (NYSE:C) by 3.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,363 shares of the company’s stock after selling 1,937 shares during the period. Axxcess Wealth Management LLC’s holdings in Citigroup were worth $3,827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of C. Swedbank AB boosted its position in shares of Citigroup by 1.3% during the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after purchasing an additional 54,782 shares in the last quarter. Empowered Funds LLC increased its position in Citigroup by 9.7% in the 3rd quarter. Empowered Funds LLC now owns 41,171 shares of the company’s stock valued at $2,577,000 after buying an additional 3,630 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Citigroup by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 145,663 shares of the company’s stock worth $9,118,000 after buying an additional 3,482 shares during the period. Pathstone Holdings LLC boosted its holdings in Citigroup by 2.8% in the third quarter. Pathstone Holdings LLC now owns 149,742 shares of the company’s stock worth $9,374,000 after acquiring an additional 4,051 shares in the last quarter. Finally, Caprock Group LLC grew its stake in Citigroup by 2.5% in the third quarter. Caprock Group LLC now owns 63,162 shares of the company’s stock valued at $3,954,000 after acquiring an additional 1,517 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on C. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Oppenheimer decreased their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Buying and Selling at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup Trading Up 0.4 %

Shares of Citigroup stock opened at $70.24 on Wednesday. The firm has a market cap of $132.37 billion, a PE ratio of 11.81, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a fifty day moving average price of $77.51 and a 200-day moving average price of $70.11.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 earnings per share. Equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.19%. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its board has approved a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.