9258 Wealth Management LLC Sells 236 Shares of Citigroup Inc. (NYSE:C)

9258 Wealth Management LLC reduced its holdings in Citigroup Inc. (NYSE:C) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,466 shares of the company’s stock after selling 236 shares during the quarter. 9258 Wealth Management LLC’s holdings in Citigroup were worth $474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after acquiring an additional 17,525,484 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Citigroup by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after purchasing an additional 250,716 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Citigroup by 8.0% in the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after purchasing an additional 1,836,283 shares in the last quarter. Putnam Investments LLC increased its position in shares of Citigroup by 7.9% during the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after purchasing an additional 1,300,520 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Citigroup during the 4th quarter valued at about $867,599,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of Citigroup stock opened at $60.62 on Friday. The company has a market cap of $115.63 billion, a PE ratio of 16.98, a P/E/G ratio of 0.68 and a beta of 1.46. The business has a 50 day moving average of $62.52 and a 200 day moving average of $61.18. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate 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%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.70%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

Analyst Ratings Changes

Several analysts have issued reports on C shares. Oppenheimer upped their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Argus increased their target price on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Evercore ISI lifted their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. Morgan Stanley upped their price target on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Citigroup Company 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.