Axxcess Wealth Management LLC Sells 1,937 Shares of Citigroup Inc. (NYSE:C)

Axxcess Wealth Management LLC lessened its position in shares of Citigroup Inc. (NYSE:C) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,363 shares of the company’s stock after selling 1,937 shares during the period. Axxcess Wealth Management LLC’s holdings in Citigroup were worth $3,827,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in C. Swedbank AB increased its position in Citigroup by 1.3% during the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after acquiring an additional 54,782 shares during the period. Empowered Funds LLC increased its holdings in shares of Citigroup by 9.7% during the third quarter. Empowered Funds LLC now owns 41,171 shares of the company’s stock worth $2,577,000 after purchasing an additional 3,630 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Citigroup by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 145,663 shares of the company’s stock valued at $9,118,000 after buying an additional 3,482 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of Citigroup by 2.8% in the third quarter. Pathstone Holdings LLC now owns 149,742 shares of the company’s stock valued at $9,374,000 after buying an additional 4,051 shares during the period. Finally, Caprock Group LLC grew its position in Citigroup by 2.5% during the third quarter. Caprock Group LLC now owns 63,162 shares of the company’s stock worth $3,954,000 after buying an additional 1,517 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of a number of recent analyst reports. Bank of America upped their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Morgan Stanley cut their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Oppenheimer decreased their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Citigroup stock opened at $70.24 on Wednesday. The stock has a 50-day moving average price of $77.51 and a two-hundred day moving average price of $70.11. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a market capitalization of $132.37 billion, a PE ratio of 11.81, a P/E/G ratio of 0.64 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the company earned $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its board has authorized a stock buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 in the last three months. Insiders own 0.08% of the company’s stock.

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.