Axxcess Wealth Management LLC Purchases 13,988 Shares of Citigroup Inc. (NYSE:C)

Axxcess Wealth Management LLC grew its holdings in Citigroup Inc. (NYSE:C) by 37.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 51,485 shares of the company’s stock after acquiring an additional 13,988 shares during the period. Axxcess Wealth Management LLC’s holdings in Citigroup were worth $2,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new position in Citigroup during the fourth quarter worth $26,000. Carmel Capital Partners LLC bought a new position in Citigroup during the 3rd quarter valued at about $25,000. Rakuten Securities Inc. acquired a new position in Citigroup in the fourth quarter valued at about $35,000. AlphaMark Advisors LLC grew its stake in Citigroup by 75.0% during the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Citigroup during the fourth quarter worth approximately $39,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Evercore ISI increased their price target on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a report on Monday, April 1st. HSBC increased their price objective on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Societe Generale lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Finally, Piper Sandler raised their price target on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.85.

Citigroup Trading Up 0.8 %

NYSE C traded up $0.51 during trading on Friday, reaching $61.52. 11,048,877 shares of the stock traded hands, compared to its average volume of 15,112,875. The stock’s 50-day moving average price is $59.70 and its 200 day moving average price is $52.62. 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 firm has a market cap of $117.83 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90.

Citigroup (NYSE:C) last posted its earnings results 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. The firm had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 earnings per share. Analysts predict that Citigroup Inc. will post 5.98 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.45%. Citigroup’s payout ratio is 62.72%.

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.