SYSTM Wealth Solutions LLC Cuts Stock Position in Citigroup Inc. (NYSE:C)

SYSTM Wealth Solutions LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 80.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,372 shares of the company’s stock after selling 21,640 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Citigroup were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after acquiring an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Citigroup by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after purchasing an additional 250,716 shares in the last quarter. Fisher Asset Management LLC grew its position in Citigroup by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after purchasing an additional 1,836,283 shares during the last quarter. Putnam Investments LLC raised its holdings in shares of Citigroup by 7.9% in the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after buying an additional 1,300,520 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of Citigroup by 1.3% during the fourth quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock worth $866,797,000 after buying an additional 223,206 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

NYSE:C opened at $59.89 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The stock’s 50-day moving average price is $61.40 and its 200-day moving average price is $61.41. The stock has a market capitalization of $114.24 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45.

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

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.74%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is presently 62.75%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on C shares. Oppenheimer upped their target price on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Argus increased their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. BMO Capital Markets lifted their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods upped their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Finally, Royal Bank of Canada raised their price target on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $68.25.

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.