Avior Wealth Management LLC Sells 5,841 Shares of Citigroup Inc. (NYSE:C)

Avior Wealth Management LLC reduced its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,270 shares of the company's stock after selling 5,841 shares during the period. Avior Wealth Management LLC's holdings in Citigroup were worth $3,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in C. Norges Bank bought a new stake in shares of Citigroup during the fourth quarter worth $1,935,599,000. Capital World Investors grew its stake in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares during the period. FMR LLC increased its stake in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Citigroup during the 4th quarter worth about $198,231,000. Finally, Franklin Resources Inc. grew its stake in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after acquiring an additional 2,804,850 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on C shares. Evercore ISI lowered their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. TD Cowen began coverage on shares of Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price for the company. Piper Sandler reissued an "overweight" rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Truist Financial reduced their price objective on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Bank of America decreased their price objective on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and an average target price of $84.30.

Citigroup Trading Up 0.1%

Citigroup stock traded up $0.04 during mid-day trading on Friday, reaching $78.39. 17,313,525 shares of the company traded hands, compared to its average volume of 14,510,149. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The firm has a market capitalization of $146.41 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 0.60 and a beta of 1.33. The firm's 50 day moving average price is $72.60 and its 200 day moving average price is $73.27.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The company had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. On average, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.86%. Citigroup's payout ratio is currently 35.39%.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by insiders.

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.