Independent Advisor Alliance Buys 851 Shares of Citigroup Inc. (NYSE:C)

Independent Advisor Alliance lifted its stake in Citigroup Inc. (NYSE:C) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,252 shares of the company’s stock after acquiring an additional 851 shares during the period. Independent Advisor Alliance’s holdings in Citigroup were worth $4,398,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. POM Investment Strategies LLC bought a new stake in Citigroup during the second quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup during the third quarter valued at $28,000. Beacon Capital Management LLC boosted its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup during the second quarter valued at $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup during the second quarter valued at $32,000. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Up 1.3 %

NYSE C opened at $70.73 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $133.77 billion, a PE ratio of 20.50, a PEG ratio of 0.78 and a beta of 1.44. Citigroup Inc. has a 1 year low of $44.56 and a 1 year high of $71.19. The business’s 50-day moving average is $64.56 and its 200 day moving average is $62.90.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. Sell-side analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.17%. Citigroup’s payout ratio is presently 64.93%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on C. Bank of America lifted their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Oppenheimer raised their price target on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Barclays raised their price target on Citigroup from $63.00 to $70.00 and gave the company 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 issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.