AE Wealth Management LLC Sells 412 Shares of Citigroup Inc. (NYSE:C)

AE Wealth Management LLC lowered its position in shares of Citigroup Inc. (NYSE:C) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 272,507 shares of the company’s stock after selling 412 shares during the quarter. AE Wealth Management LLC’s holdings in Citigroup were worth $17,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of C. Price T Rowe Associates Inc. MD raised its holdings in shares of Citigroup by 123.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock worth $1,881,805,000 after purchasing an additional 4,620,867 shares during the period. Swedbank AB bought a new stake in shares of Citigroup in the 1st quarter worth approximately $253,286,000. Acadian Asset Management LLC raised its holdings in shares of Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after purchasing an additional 2,100,135 shares during the period. Finally, Caxton Associates LP raised its holdings in shares of Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after purchasing an additional 1,988,494 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on C. Evercore ISI lifted their price objective on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Piper Sandler boosted their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Argus boosted their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Stock Performance

Shares of NYSE:C opened at $62.11 on Friday. The company has a market cap of $118.47 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. The company has a 50-day moving average price of $61.30 and a 200-day moving average price of $61.46. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the prior year, the firm posted $1.37 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is 62.75%.

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.