Naviter Wealth LLC Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

Naviter Wealth LLC lowered its stake in Citigroup Inc. (NYSE:C) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,404 shares of the company’s stock after selling 264 shares during the quarter. Naviter Wealth LLC’s holdings in Citigroup were worth $1,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Carmel Capital Partners LLC bought a new stake in shares of Citigroup during the third quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new stake in shares of Citigroup during the fourth quarter valued at $35,000. AlphaMark Advisors LLC increased its holdings in Citigroup by 75.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Citigroup in the 4th quarter worth about $39,000. Finally, Venturi Wealth Management LLC lifted its stake in Citigroup by 52.5% during the 4th quarter. Venturi Wealth Management LLC now owns 796 shares of the company’s stock valued at $41,000 after acquiring an additional 274 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on C shares. Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price on the stock. in a report on Wednesday, January 10th. Jefferies Financial Group raised their target price on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Evercore ISI raised their target price on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $62.85.

Citigroup Stock Performance

Shares of C stock opened at $61.89 on Tuesday. The company’s 50 day moving average is $59.24 and its 200 day moving average is $52.21. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The firm has a market cap of $118.54 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 0.94 and a beta of 1.52. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. During the same quarter last year, the company earned $1.86 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.97 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a $0.53 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.43%. Citigroup’s dividend payout ratio (DPR) is 62.72%.

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.