Marcum Wealth LLC Sells 456 Shares of Citigroup Inc. (NYSE:C)

Marcum Wealth LLC cut its position in Citigroup Inc. (NYSE:C) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,005 shares of the company’s stock after selling 456 shares during the quarter. Marcum Wealth LLC’s holdings in Citigroup were worth $313,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Citigroup by 12.3% in the third quarter. CWM LLC now owns 73,901 shares of the company’s stock worth $4,626,000 after purchasing an additional 8,097 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Citigroup in the 3rd quarter valued at approximately $94,000. Strategic Wealth Partners Ltd. increased its position in Citigroup by 4.3% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 68,040 shares of the company’s stock worth $4,259,000 after buying an additional 2,783 shares during the period. Brookstone Capital Management lifted its holdings in shares of Citigroup by 38.5% during the third quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock worth $512,000 after buying an additional 2,274 shares during the last quarter. Finally, Bridge Creek Capital Management LLC boosted its position in shares of Citigroup by 0.3% in the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after acquiring an additional 175 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 1.0 %

C opened at $63.49 on Friday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market cap of $121.10 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.69 and a beta of 1.44. The firm’s 50-day simple moving average is $60.52 and its 200-day simple moving average is $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 posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same quarter last year, the business posted $1.37 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.53%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on C shares. Piper Sandler boosted their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Argus upped their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Royal Bank of Canada lifted their target price on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. BMO Capital Markets boosted their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods raised their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

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.