Arkadios Wealth Advisors Grows Stake in Citigroup Inc. (NYSE:C)

Arkadios Wealth Advisors increased its holdings in shares of Citigroup Inc. (NYSE:C) by 54.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,655 shares of the company’s stock after purchasing an additional 9,777 shares during the quarter. Arkadios Wealth Advisors’ holdings in Citigroup were worth $1,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Price T Rowe Associates Inc. MD grew its holdings in shares of Citigroup by 123.5% during 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 purchasing an additional 17,525,484 shares during the last quarter. Swedbank AB purchased a new position in Citigroup during the 1st quarter worth approximately $253,286,000. Acadian Asset Management LLC increased its position in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares during the period. Caxton Associates LP lifted its stake in Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after buying an additional 1,988,494 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in shares of Citigroup by 1,749.2% in the first quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock valued at $82,985,000 after acquiring an additional 1,243,249 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Down 2.0 %

C stock opened at $61.76 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The company’s 50-day moving average price is $61.67 and its 200 day moving average price is $61.96. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The company has a market cap of $117.80 billion, a P/E ratio of 17.30, a P/E/G ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on C. Oppenheimer cut their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a report on Wednesday, October 16th. Morgan Stanley reduced their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Bank of America raised their price target on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler upped their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, The Goldman Sachs Group lowered their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.06.

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.