Tobam Has $161,000 Stock Position in Citigroup Inc. (NYSE:C)

Tobam cut its holdings in Citigroup Inc. (NYSE:C) by 32.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,576 shares of the company’s stock after selling 1,261 shares during the quarter. Tobam’s holdings in Citigroup were worth $161,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. MONECO Advisors LLC raised its position in shares of Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after acquiring an additional 157 shares during the period. Pinnacle Wealth Planning Services Inc. raised its holdings in Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after purchasing an additional 164 shares during the period. NorthRock Partners LLC grew its holdings in shares of Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares during the period. Legacy Capital Group California Inc. increased its position in shares of Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after buying an additional 169 shares in the last quarter. Finally, Bridge Creek Capital Management LLC raised its stake in Citigroup by 0.3% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on C shares. Evercore ISI increased their price target on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Oppenheimer raised their target price on shares of Citigroup from $87.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Argus upped their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.33.

Citigroup Price Performance

Citigroup stock opened at $63.49 on Friday. The company has a market capitalization of $121.10 billion, a PE ratio of 17.78, a P/E/G ratio of 0.69 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. The stock has a 50-day moving average price of $60.52 and a two-hundred day moving average price of $61.85. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the prior year, the business posted $1.37 earnings per share. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.56 dividend. The ex-dividend date was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.53%. Citigroup’s dividend payout ratio is presently 62.75%.

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.