Spire Wealth Management Sells 6,695 Shares of Citigroup Inc. (NYSE:C)

Spire Wealth Management trimmed its position in Citigroup Inc. (NYSE:C) by 32.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,906 shares of the company’s stock after selling 6,695 shares during the quarter. Spire Wealth Management’s holdings in Citigroup were worth $716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in C. AustralianSuper Pty Ltd boosted its holdings in Citigroup by 5.2% during the third quarter. AustralianSuper Pty Ltd now owns 18,993 shares of the company’s stock worth $781,000 after buying an additional 937 shares during the last quarter. TD Asset Management Inc boosted its stake in Citigroup by 19.8% during the 3rd quarter. TD Asset Management Inc now owns 794,518 shares of the company’s stock worth $32,679,000 after acquiring an additional 131,338 shares during the last quarter. TIAA Trust National Association acquired a new position in Citigroup during the third quarter valued at approximately $631,000. Skylands Capital LLC increased its stake in Citigroup by 32.3% in the third quarter. Skylands Capital LLC now owns 116,375 shares of the company’s stock valued at $4,787,000 after purchasing an additional 28,425 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Citigroup by 1.9% in the third quarter. First Horizon Advisors Inc. now owns 357,062 shares of the company’s stock worth $14,686,000 after purchasing an additional 6,561 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on C. Jefferies Financial Group boosted their price objective on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Morgan Stanley raised shares of Citigroup from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $46.00 to $65.00 in a research report on Tuesday, January 30th. Oppenheimer cut their price objective on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. Piper Sandler increased their target price on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Evercore ISI boosted their price target on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.85.

Citigroup Stock Performance

NYSE C opened at $62.75 on Thursday. The company has a market capitalization of $120.18 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 0.92 and a beta of 1.49. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $63.90. The stock has a fifty day simple moving average of $59.98 and a 200 day simple moving average of $53.10. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. During the same period in the prior year, the company posted $1.86 earnings per share. Citigroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts expect that Citigroup Inc. will post 5.98 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is currently 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.