Global Wealth Management Investment Advisory Inc. Cuts Holdings in Citigroup Inc. (NYSE:C)

Global Wealth Management Investment Advisory Inc. decreased its position in shares of Citigroup Inc. (NYSE:C) by 97.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,167 shares of the company’s stock after selling 49,822 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Citigroup were worth $60,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in C. Carmel Capital Partners LLC purchased a new position in shares of Citigroup during the third quarter valued at about $25,000. AlphaMark Advisors LLC grew its position in Citigroup by 75.0% in the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. OFI Invest Asset Management purchased a new position in Citigroup in the third quarter worth about $35,000. Rakuten Securities Inc. purchased a new position in Citigroup in the fourth quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Citigroup in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.0 %

Shares of NYSE:C opened at $61.35 on Thursday. The company has a market cap of $117.50 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 0.92 and a beta of 1.49. The firm’s 50-day simple moving average is $59.48 and its 200-day simple moving average is $52.41. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90.

Citigroup (NYSE:C) last announced its earnings results 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 company had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 earnings per share. As a group, equities research analysts predict that Citigroup Inc. will post 5.97 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors 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 yield of 3.46%. Citigroup’s payout ratio is 62.72%.

Analyst Ratings Changes

C has been the subject of several analyst reports. Oppenheimer decreased their price objective on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday. HSBC raised their price objective on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. BMO Capital Markets downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price objective for the company. in a research note on Wednesday, January 10th. Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, January 3rd. Finally, StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. One 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.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price 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.