Global Wealth Management Investment Advisory Inc. Sells 49,822 Shares of Citigroup Inc. (NYSE:C)

Global Wealth Management Investment Advisory Inc. lowered its position in Citigroup Inc. (NYSE:C) by 97.7% in the 4th quarter, Holdings Channel reports. The fund owned 1,167 shares of the company’s stock after selling 49,822 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Citigroup were worth $60,000 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 C. Accurate Wealth Management LLC raised its stake in Citigroup by 8.9% during the third quarter. Accurate Wealth Management LLC now owns 6,105 shares of the company’s stock valued at $252,000 after buying an additional 499 shares during the last quarter. FinTrust Capital Advisors LLC raised its stake in Citigroup by 131.8% during the third quarter. FinTrust Capital Advisors LLC now owns 4,567 shares of the company’s stock valued at $188,000 after buying an additional 2,597 shares during the last quarter. Raymond James & Associates raised its stake in Citigroup by 7.7% during the third quarter. Raymond James & Associates now owns 1,643,389 shares of the company’s stock valued at $67,593,000 after buying an additional 117,446 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Citigroup by 0.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 548,029 shares of the company’s stock valued at $22,540,000 after buying an additional 3,195 shares during the last quarter. Finally, 1834 Investment Advisors Co. raised its stake in shares of Citigroup by 11.3% in the third quarter. 1834 Investment Advisors Co. now owns 6,869 shares of the company’s stock worth $283,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $61.35 on Thursday. The firm has a market cap of $117.50 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49. 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 business has a 50-day moving average price of $59.48 and a 200-day moving average price of $52.41. Citigroup Inc. has a twelve month low of $38.17 and a twelve month 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 (EPS) 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 business had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Citigroup Inc. will post 5.97 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.46%. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Analysts Set New Price Targets

Several research firms have recently weighed in on C. Wells Fargo & Company restated an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. HSBC boosted their price target on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Oppenheimer decreased their price target on Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday. Piper Sandler boosted their price target on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, BMO Capital Markets cut Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price objective for the company. in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.85.

Citigroup 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.