Avantax Advisory Services Inc. Trims Stock Position in Citigroup Inc. (NYSE:C)

Avantax Advisory Services Inc. cut its stake in Citigroup Inc. (NYSE:C) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,862 shares of the company’s stock after selling 2,347 shares during the period. Avantax Advisory Services Inc.’s holdings in Citigroup were worth $2,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Orion Capital Management LLC acquired a new position in Citigroup during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new position in Citigroup during the fourth quarter worth about $29,000. Beaird Harris Wealth Management LLC grew its position in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares during the period. Rakuten Securities Inc. acquired a new position in Citigroup during the fourth quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Citigroup during the fourth quarter worth about $39,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Citigroup stock traded up $0.23 during midday trading on Wednesday, reaching $67.50. 8,815,173 shares of the stock traded hands, compared to its average volume of 15,037,307. The firm has a fifty day moving average price of $62.84 and a two-hundred day moving average price of $59.21. The firm has a market cap of $128.75 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 0.93 and a beta of 1.46. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 5.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on C shares. HSBC increased their price target on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. BMO Capital Markets increased their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Piper Sandler increased 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. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research report on Monday, April 1st. Finally, Evercore ISI increased their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.27.

Citigroup 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.