Citigroup Inc. (NYSE:C) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC reduced its holdings in Citigroup Inc. (NYSE:C) by 92.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,478 shares of the company’s stock after selling 92,940 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Citigroup were worth $468,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. POM Investment Strategies LLC purchased a new stake in Citigroup during the second quarter worth about $25,000. Beacon Capital Management LLC lifted its position in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup during the 2nd quarter worth approximately $31,000. Triad Wealth Partners LLC acquired a new stake in shares of Citigroup in the 2nd quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Citigroup by 1,139.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after acquiring an additional 48,484 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on C shares. Bank of America boosted their target price on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their price objective on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Barclays lifted their price objective on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Stock Performance

Citigroup stock opened at $61.84 on Tuesday. The stock has a fifty day moving average price of $61.43 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. The firm has a market capitalization of $117.96 billion, a P/E ratio of 17.32, a PEG ratio of 0.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the firm posted $1.52 EPS. The company’s revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current year.

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.