Wedmont Private Capital Increases Stake in Citigroup Inc. (NYSE:C)

Wedmont Private Capital raised its holdings in shares of Citigroup Inc. (NYSE:C) by 5.0% in the third quarter, Holdings Channel reports. The institutional investor owned 15,293 shares of the company’s stock after acquiring an additional 722 shares during the period. Wedmont Private Capital’s holdings in Citigroup were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new stake in shares of Citigroup in the second quarter worth $25,000. Beacon Capital Management LLC increased its stake in shares of Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after purchasing an additional 569 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the second quarter worth $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Citigroup in the second quarter worth $32,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on C. Evercore ISI increased their price objective 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. Morgan Stanley increased their price objective on shares of Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Oppenheimer upped their target price on shares of Citigroup from $87.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Finally, Royal Bank of Canada upped their target price on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently 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 firm has a 50-day moving average price of $60.52 and a 200-day moving average price of $61.85. The firm has a market capitalization of $121.10 billion, a PE ratio of 17.78, a price-to-earnings-growth 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. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.37 EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 5.79 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 issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is 62.75%.

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.