Oliver Luxxe Assets LLC Decreases Stake in Citigroup Inc. (NYSE:C)

Oliver Luxxe Assets LLC lessened its position in shares of Citigroup Inc. (NYSE:C) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,374 shares of the company’s stock after selling 2,634 shares during the period. Citigroup makes up about 1.6% of Oliver Luxxe Assets LLC’s holdings, making the stock its 8th biggest position. Oliver Luxxe Assets LLC’s holdings in Citigroup were worth $7,486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kentucky Retirement Systems boosted its stake in shares of Citigroup by 2.6% in the 4th quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock valued at $7,877,000 after purchasing an additional 3,808 shares in the last quarter. Simplicity Solutions LLC boosted its position in Citigroup by 17.6% during the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after buying an additional 4,150 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Citigroup by 56.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after buying an additional 449,310 shares during the period. GFS Advisors LLC purchased a new stake in Citigroup during the 4th quarter valued at $2,003,000. Finally, TD Asset Management Inc lifted its position in shares of Citigroup by 21.8% in the 4th quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock worth $49,776,000 after purchasing an additional 173,137 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C traded up $0.15 on Monday, reaching $63.61. The company’s stock had a trading volume of 6,639,813 shares, compared to its average volume of 15,019,866. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $121.33 billion, a P/E ratio of 18.79, a PEG ratio of 0.97 and a beta of 1.46. The stock’s 50 day simple moving average is $62.06 and its two-hundred day simple moving average is $57.99. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $64.98.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. Research analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, May 3rd. Citigroup’s dividend payout ratio is currently 62.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Evercore ISI increased their price target on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Jefferies Financial Group increased their price target on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Citigroup in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.03.

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.