Arete Wealth Advisors LLC Sells 5,086 Shares of Citigroup Inc. (NYSE:C)

Arete Wealth Advisors LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 24.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,917 shares of the company’s stock after selling 5,086 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Citigroup were worth $993,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. POM Investment Strategies LLC bought a new position in shares of Citigroup in the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in Citigroup during the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new position in Citigroup in the 2nd quarter valued at about $31,000. Triad Wealth Partners LLC acquired a new position in shares of Citigroup in the 2nd quarter valued at approximately $32,000. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after acquiring an additional 48,484 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on C shares. Bank of America raised their price objective on Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and raised their price target for the company from $70.00 to $82.00 in a research note on Tuesday, December 3rd. Piper Sandler upped their price objective on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group boosted their target price on shares of Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.63.

Citigroup Price Performance

Shares of NYSE C opened at $71.93 on Thursday. The firm has a market capitalization of $136.03 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.81 and a beta of 1.45. The firm’s 50-day moving average price is $66.71 and its 200-day moving average price is $63.48. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 1-year low of $47.71 and a 1-year high of $73.38.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.11%. Citigroup’s payout ratio is 64.93%.

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.