Avantax Advisory Services Inc. Sells 1,603 Shares of Citigroup Inc. $C

Avantax Advisory Services Inc. lessened its position in shares of Citigroup Inc. (NYSE:C) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,616 shares of the company’s stock after selling 1,603 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Citigroup were worth $6,351,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of C. Accent Capital Management LLC grew its holdings in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Truvestments Capital LLC raised its stake in Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 246 shares in the last quarter. DHJJ Financial Advisors Ltd. lifted its position in Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after purchasing an additional 253 shares during the last quarter. HHM Wealth Advisors LLC grew its stake in shares of Citigroup by 805.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock worth $37,000 after buying an additional 467 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Citigroup in the 1st quarter worth about $38,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Barclays increased their price target on shares of Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Oppenheimer lowered their price objective on Citigroup from $124.00 to $123.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. TD Cowen lifted their target price on Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.63.

Citigroup Stock Up 0.2%

Shares of C opened at $98.39 on Wednesday. The firm has a fifty day moving average price of $99.73 and a 200-day moving average price of $90.56. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $176.04 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.83 and a beta of 1.37. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $1.89 by $0.35. The company had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s payout ratio is currently 33.71%.

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.