Waverly Advisors LLC Sells 21,044 Shares of Citigroup Inc. $C

Waverly Advisors LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,991 shares of the company’s stock after selling 21,044 shares during the period. Waverly Advisors LLC’s holdings in Citigroup were worth $21,133,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of C. Whipplewood Advisors LLC bought a new position in shares of Citigroup in the first quarter worth about $25,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Citigroup in the fourth quarter worth $25,000. Paladin Partners LLC purchased a new stake in Citigroup in the 2nd quarter worth $27,000. TD Capital Management LLC purchased a new stake in shares of Citigroup in the fourth quarter worth about $28,000. Finally, IMG Wealth Management Inc. raised its holdings in shares of Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $136.64 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The firm has a market cap of $233.05 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.62 and a beta of 1.12. The stock’s fifty day moving average price is $135.09 and its 200-day moving average price is $127.86. Citigroup Inc. has a 12 month low of $93.66 and a 12 month high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 EPS. On average, equities research analysts expect that Citigroup Inc. will post 11.21 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were issued a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, August 3rd. Citigroup’s dividend payout ratio is presently 28.94%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on C shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Argus set a $150.00 price target on Citigroup in a report on Wednesday, July 15th. Wells Fargo & Company raised their price target on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Oppenheimer cut shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is reportedly close to receiving approval for a wholly owned mainland China brokerage, potentially as soon as September. The bank plans to roughly double staffing, expanding its presence in technology, healthcare, consumer and financial-services investment banking. Citigroup moves deeper into China’s capital markets
• Positive Sentiment: Citi and DBS completed a live Singapore-to-U.S. dollar payment over a weekend in minutes using tokenized bank deposits and SWIFT’s blockchain-based Digital Ledger. The initiative highlights Citi’s payments technology and could support future transaction-banking growth. DBS and Citi settled a weekend cross-border payment
• Neutral Sentiment: Citi expects semiconductor stocks to rebound on resilient data-center demand and upcoming industry conferences. The view may benefit Citi indirectly through technology-sector client activity, but it does not directly change the bank’s earnings outlook. Citi’s semiconductor outlook
• Neutral Sentiment: Citi also became more bullish on trucking stocks, upgrading Old Dominion Freight Line and C.H. Robinson. The research reflects Citi’s advisory and trading franchise but has limited immediate impact on Citigroup’s fundamentals. Citi turns more bullish on trucking stocks
• Negative Sentiment: Analysts warn that capital-markets momentum is fading in the third quarter, raising the risk of uneven investment-banking and trading results for large banks including Citi. This is the clearest near-term pressure on C stock. Capital-markets momentum fades

About Citigroup

Citigroup Inc (NYSE:C) is a global financial services company headquartered in New York City. Through its businesses, Citi provides banking, lending, credit card, wealth management, investment banking, securities, markets and treasury services to individuals, businesses, financial institutions and governments.

The company’s operations include U.S. Personal Banking, which offers consumer banking, credit cards and lending products; Wealth Management, which serves affluent and high-net-worth clients; and its Institutional Clients Group, which provides investment banking, corporate banking, markets, securities services and transaction banking.