Advisors Asset Management Inc. Sells 12,899 Shares of Citigroup Inc. (NYSE:C)

Advisors Asset Management Inc. reduced its position in shares of Citigroup Inc. (NYSE:C) by 16.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,165 shares of the company’s stock after selling 12,899 shares during the quarter. Advisors Asset Management Inc.’s holdings in Citigroup were worth $4,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC raised its holdings in Citigroup by 7.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 55,545 shares of the company’s stock valued at $3,513,000 after buying an additional 4,060 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Citigroup by 21.8% during the 1st quarter. EP Wealth Advisors LLC now owns 14,029 shares of the company’s stock valued at $887,000 after buying an additional 2,510 shares during the last quarter. Wellington Wealth Strategies LLC. bought a new position in Citigroup in the 1st quarter worth $353,000. Freestone Capital Holdings LLC raised its holdings in Citigroup by 10.0% in the 1st quarter. Freestone Capital Holdings LLC now owns 41,111 shares of the company’s stock worth $2,600,000 after purchasing an additional 3,733 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in Citigroup by 122.2% in the 1st quarter. CreativeOne Wealth LLC now owns 11,385 shares of the company’s stock worth $719,000 after purchasing an additional 6,262 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. 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 $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. BMO Capital Markets upped their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.25.

Citigroup Stock Up 1.3 %

NYSE:C traded up $0.83 on Friday, reaching $65.20. 9,660,079 shares of the stock traded hands, compared to its average volume of 14,886,778. The company has a market capitalization of $124.37 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 0.69 and a beta of 1.46. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The company’s fifty day simple moving average is $63.03 and its 200 day simple moving average is $59.69.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $1.37 EPS. Equities analysts predict that Citigroup Inc. will post 5.84 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

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.