Gray Wealth Management Inc. Trims Stock Position in Citigroup Inc. (NYSE:C)

Gray Wealth Management Inc. lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 21.1% in the 4th quarter, Holdings Channel.com reports. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Snider Financial Group raised its holdings in shares of Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock worth $4,512,000 after acquiring an additional 84,407,589 shares in the last quarter. Norges Bank purchased a new stake in Citigroup in the fourth quarter worth $631,922,000. Moneta Group Investment Advisors LLC increased its stake in Citigroup by 87,332.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,511,342 shares of the company’s stock worth $339,738,000 after purchasing an additional 7,502,751 shares during the period. International Assets Investment Management LLC bought a new position in shares of Citigroup during the 4th quarter worth $2,109,120,000. Finally, Greenhaven Associates Inc. grew its position in shares of Citigroup by 22.4% during the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after buying an additional 2,948,512 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 1.7 %

NYSE C traded up $1.00 on Friday, hitting $59.32. 2,299,508 shares of the stock traded hands, compared to its average volume of 17,059,113. The stock has a 50-day moving average of $58.19 and a 200 day moving average of $51.03. Citigroup Inc. has a twelve month low of $38.17 and a twelve month 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 company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.

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, topping analysts’ consensus estimates of $1.29 by $0.29. The business had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 EPS. As a group, analysts expect that Citigroup Inc. will post 5.91 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.57%. Citigroup’s payout ratio is currently 62.72%.

Wall Street Analyst Weigh In

C has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Citigroup in a research report on Monday, April 1st. Societe Generale cut Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Piper Sandler lifted their price target on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus 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.