Stoneridge Investment Partners LLC Trims Holdings in Citigroup Inc. (NYSE:C)

Stoneridge Investment Partners LLC lowered its position in shares of Citigroup Inc. (NYSE:C) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,381 shares of the company’s stock after selling 1,300 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Citigroup were worth $849,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Citigroup in the 2nd quarter worth approximately $25,000. 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 last quarter. Triad Wealth Partners LLC purchased a new position in Citigroup during the 2nd quarter valued at approximately $32,000. Frazier Financial Advisors LLC purchased a new stake in shares of Citigroup during the 4th quarter worth approximately $29,000. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Citigroup by 93.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock valued at $36,000 after acquiring an additional 276 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group dropped their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods increased their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Royal Bank of Canada lifted their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Finally, Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

Citigroup Price Performance

Shares of C opened at $57.69 on Friday. The firm has a 50-day simple moving average of $61.81 and a two-hundred day simple moving average of $61.29. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The stock has a market cap of $110.05 billion, a PE ratio of 16.16, a P/E/G ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts forecast that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.88%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

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.