Gray Wealth Management Inc. Sells 1,118 Shares of Citigroup Inc. (NYSE:C)

Gray Wealth Management Inc. reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 21.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,173 shares of the company’s stock after selling 1,118 shares during the quarter. Gray Wealth Management Inc.’s holdings in Citigroup were worth $215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Carmel Capital Partners LLC bought a new stake in Citigroup in the 3rd quarter worth $25,000. GHP Investment Advisors Inc. lifted its position in Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock valued at $28,000 after acquiring an additional 290 shares during the period. SkyView Investment Advisors LLC purchased a new position in Citigroup during the 1st quarter valued at about $28,000. AlphaMark Advisors LLC lifted its position in Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Finally, Janiczek Wealth Management LLC lifted its position in Citigroup by 115.0% during the 3rd quarter. Janiczek Wealth Management LLC now owns 802 shares of the company’s stock valued at $33,000 after acquiring an additional 429 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of Citigroup stock traded up $1.00 during trading hours on Friday, reaching $59.32. 2,299,508 shares of the company’s stock were exchanged, compared to its average volume of 17,059,113. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $63.90. The company has a market capitalization of $113.61 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52. The business has a fifty day moving average of $58.19 and a two-hundred day moving average of $51.03. 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 announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating 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 firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same quarter in the previous year, the company posted $1.86 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, research analysts predict that Citigroup Inc. will post 5.91 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio is presently 62.72%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on C shares. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Wednesday, January 3rd. Evercore ISI boosted their target price on shares of Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Societe Generale lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Finally, Piper Sandler upped their price target on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.91.

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.