Connectus Wealth LLC Sells 7,680 Shares of Citigroup Inc. (NYSE:C)

Connectus Wealth LLC lowered its position in Citigroup Inc. (NYSE:CFree Report) by 26.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,007 shares of the company’s stock after selling 7,680 shares during the period. Connectus Wealth LLC’s holdings in Citigroup were worth $1,081,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Massachusetts Wealth Management grew its stake in shares of Citigroup by 0.5% in the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after purchasing an additional 192 shares during the last quarter. Founders Capital Management grew its stake in shares of Citigroup by 12.5% in the fourth quarter. Founders Capital Management now owns 1,800 shares of the company’s stock worth $93,000 after purchasing an additional 200 shares during the last quarter. Cowa LLC grew its stake in shares of Citigroup by 3.1% in the fourth quarter. Cowa LLC now owns 6,600 shares of the company’s stock worth $340,000 after purchasing an additional 200 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its stake in shares of Citigroup by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock worth $1,267,000 after purchasing an additional 200 shares during the last quarter. Finally, Rossmore Private Capital boosted its position in Citigroup by 1.5% during the fourth quarter. Rossmore Private Capital now owns 13,800 shares of the company’s stock valued at $710,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Oppenheimer cut their price target on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Jefferies Financial Group upped their price target on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. HSBC increased their price objective on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Evercore ISI upped their target price on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. One equities 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. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $63.66.

Get Our Latest Report on C

Citigroup Stock Down 0.5 %

Citigroup stock opened at $61.45 on Tuesday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $64.98. The firm has a 50 day moving average price of $61.90 and a 200-day moving average price of $56.64. The company has a market capitalization of $117.21 billion, a P/E ratio of 18.18, a P/E/G ratio of 0.93 and a beta of 1.48. 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 (NYSE:CGet Free Report) last released 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. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same period in the prior year, the firm earned $1.86 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts predict that Citigroup Inc. will post 5.96 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.45%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

About Citigroup

(Free Report)

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.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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