Avantax Advisory Services Inc. Reduces Position in Citigroup Inc. (NYSE:C)

Avantax Advisory Services Inc. lessened its stake in Citigroup Inc. (NYSE:CFree Report) by 3.4% in the third quarter, HoldingsChannel.com reports. The firm owned 50,302 shares of the company’s stock after selling 1,776 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Citigroup were worth $2,069,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Snider Financial Group boosted its stake 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 purchasing an additional 84,407,589 shares during the last quarter. State Street Corp lifted its position in Citigroup by 1.7% during the 2nd quarter. State Street Corp now owns 83,964,367 shares of the company’s stock worth $3,865,719,000 after acquiring an additional 1,442,952 shares in the last quarter. Geode Capital Management LLC grew its holdings in Citigroup by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 36,038,176 shares of the company’s stock valued at $1,655,333,000 after purchasing an additional 859,170 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Citigroup by 23.7% during the second quarter. Fisher Asset Management LLC now owns 27,068,272 shares of the company’s stock worth $1,246,223,000 after acquiring an additional 5,180,027 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Citigroup by 2.6% in the 4th quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock valued at $1,169,317,000 after purchasing an additional 666,560 shares in the last quarter. 69.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Wednesday, January 3rd. TheStreet upgraded Citigroup from a “c+” rating to a “b-” rating in a research note on Wednesday, December 13th. Bank of America cut their price objective on Citigroup from $60.00 to $50.00 in a research note on Tuesday, October 10th. BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target for the company. in a report on Wednesday, January 10th. Finally, Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.62.

Get Our Latest Stock Analysis on C

Citigroup Price Performance

NYSE C opened at $54.35 on Wednesday. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $57.95. The firm has a market capitalization of $104.02 billion, a PE ratio of 13.62, a P/E/G ratio of 1.52 and a beta of 1.52. The company’s 50 day simple moving average is $51.55 and its 200 day simple moving average is $45.66. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.95 and a quick ratio of 0.94.

Citigroup (NYSE:CGet Free Report) last released its earnings results on Friday, January 12th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($1.89). Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The firm had revenue of $17.44 billion for the quarter, compared to analyst estimates of $18.71 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. Citigroup’s revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc. will post 5.93 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 5th will be paid a $0.53 dividend. The ex-dividend date is Friday, February 2nd. This represents a $2.12 dividend on an annualized basis and a yield of 3.90%. Citigroup’s dividend payout ratio is currently 53.13%.

Citigroup Profile

(Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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