Advisors Asset Management Inc. Boosts Stock Holdings in Citigroup Inc. (NYSE:C)

Advisors Asset Management Inc. increased its position in Citigroup Inc. (NYSE:C) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,872 shares of the company’s stock after acquiring an additional 522 shares during the period. Advisors Asset Management Inc.’s holdings in Citigroup were worth $3,873,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in C. POM Investment Strategies LLC purchased a new stake in Citigroup during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new stake in Citigroup during the third quarter valued at $28,000. Beacon Capital Management LLC lifted its holdings in Citigroup by 85.5% in the first 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 position in Citigroup in the second quarter worth about $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup during the 2nd quarter valued at about $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the topic of a number of research reports. 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. Bank of America lifted their price target on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI boosted their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, Oppenheimer upped their price target on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One equities 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’s stock. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Citigroup Price Performance

C stock opened at $69.84 on Friday. The company has a market capitalization of $132.09 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company’s fifty day moving average price is $64.32 and its 200-day moving average price is $62.84. Citigroup Inc. has a one year low of $44.56 and a one year high of $70.20. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Citigroup Company 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.