Wealth Effects LLC Sells 650 Shares of Citigroup Inc. (NYSE:C)

by · The Cerbat Gem

Wealth Effects LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C – Free Report) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,850 shares of the company’s stock after selling 650 shares during the period. Wealth Effects LLC’s holdings in Citigroup were worth $554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after acquiring an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after purchasing an additional 250,716 shares during the last quarter. Legal & General Group Plc lifted its position in Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after buying an additional 913,231 shares during the last quarter. Greenhaven Associates Inc. lifted its holdings in shares of Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after acquiring an additional 242,545 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Citigroup by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock valued at $590,106,000 after buying an additional 168,070 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 1.4 %

Shares of C traded down $0.90 during mid-day trading on Monday, reaching $61.95. The company had a trading volume of 4,037,467 shares, compared to its average volume of 14,397,213. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $118.17 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The firm has a 50-day moving average price of $61.35 and a 200 day moving average price of $61.92. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81.

Citigroup (NYSE:C – Get Free Report) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the company posted $1.52 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Citigroup Inc. will post 5.76 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on C shares. Piper Sandler increased their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer cut their target price on Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 16th. Argus upped their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Bank of America lifted their price objective on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group dropped their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.06.

Read Our Latest Stock Analysis on C

Citigroup Company Profile

(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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