Quotient Wealth Partners LLC Cuts Stock Position in Citigroup Inc. (NYSE:C)

Quotient Wealth Partners LLC trimmed its position in shares of Citigroup Inc. (NYSE:C) by 6.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,167 shares of the company’s stock after selling 385 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Citigroup were worth $323,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. POM Investment Strategies LLC bought a new stake in Citigroup in the second quarter worth $25,000. Beacon Capital Management LLC lifted its stake in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Citigroup during the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC purchased a new position in Citigroup in the 2nd quarter worth approximately $32,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 1.0 %

Shares of NYSE:C opened at $63.49 on Friday. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The firm has a market capitalization of $121.10 billion, a P/E ratio of 17.78, a P/E/G ratio of 0.69 and a beta of 1.44. The stock has a 50 day moving average price of $60.52 and a 200-day moving average price of $61.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a $0.56 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.53%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is currently 62.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on C shares. Oppenheimer increased their price objective on Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Morgan Stanley boosted their price objective on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Piper Sandler increased their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Evercore ISI boosted their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.33.

Citigroup Company 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.