FARMERS & MERCHANTS TRUST Co OF LONG BEACH Invests $260,000 in Citigroup Inc. (NYSE:C)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in shares of Citigroup Inc. (NYSE:C) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,100 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MONECO Advisors LLC grew its stake in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after purchasing an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares during the last quarter. NorthRock Partners LLC grew its stake in Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after purchasing an additional 169 shares during the last quarter. Finally, Gries Financial LLC grew its stake in Citigroup by 3.0% in the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock valued at $381,000 after purchasing an additional 176 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 0.8 %

Shares of C stock opened at $59.54 on Tuesday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The stock has a market cap of $113.59 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.64 and a beta of 1.45. The stock has a 50 day moving average of $62.36 and a 200 day moving average of $61.32. 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 posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the previous year, the firm earned $1.37 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 5.82 EPS for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio is presently 62.75%.

Analyst Upgrades and Downgrades

C has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Evercore ISI lifted their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Oppenheimer upped their price target on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley upped their price target on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, BMO Capital Markets upped their price target 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.06.

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.