Axxcess Wealth Management LLC Increases Position in Citigroup Inc. (NYSE:C)

Axxcess Wealth Management LLC boosted its stake in Citigroup Inc. (NYSE:C) by 37.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,485 shares of the company’s stock after acquiring an additional 13,988 shares during the period. Axxcess Wealth Management LLC’s holdings in Citigroup were worth $2,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of Citigroup in the fourth quarter valued at approximately $2,109,120,000. Greenhaven Associates Inc. boosted 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 purchasing an additional 2,948,512 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Citigroup by 42.4% during the 3rd quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock worth $266,709,000 after purchasing an additional 1,930,296 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Citigroup by 8.0% in the fourth quarter. Fisher Asset Management LLC now owns 24,751,813 shares of the company’s stock valued at $1,273,233,000 after purchasing an additional 1,832,819 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Citigroup by 251.1% in the third quarter. Canada Pension Plan Investment Board now owns 2,356,177 shares of the company’s stock valued at $96,910,000 after purchasing an additional 1,685,100 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.8 %

Shares of C stock traded up $0.51 during trading hours on Friday, hitting $61.52. 11,048,877 shares of the company were exchanged, compared to its average volume of 15,112,875. The firm has a fifty day moving average of $59.70 and a 200 day moving average of $52.62. 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 1 year low of $38.17 and a 1 year high of $63.90. The firm has a market cap of $117.83 billion, a PE ratio of 18.20, a PEG ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last issued its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. Analysts expect that Citigroup Inc. will post 5.98 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods upped their target price on Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, April 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Oppenheimer cut their target price on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, April 30th. Finally, Evercore ISI increased their price target on shares of Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.85.

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.