Diversify Wealth Management LLC Trims Stake in Citigroup Inc. (NYSE:C)

Diversify Wealth Management LLC lessened its position in Citigroup Inc. (NYSE:C) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,262 shares of the company’s stock after selling 293 shares during the quarter. Diversify Wealth Management LLC’s holdings in Citigroup were worth $837,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new position in shares of Citigroup during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC increased its position in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup during the second quarter valued at $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup in the second quarter worth $32,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.3 %

Shares of C stock opened at $64.51 on Thursday. 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 $38.92 and a 12 month high of $67.81. The stock has a market cap of $123.07 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.74 and a beta of 1.44. The company has a 50 day simple moving average of $61.87 and a two-hundred day simple moving average of $62.05.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the firm earned $1.52 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 5.76 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be given a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.47%. Citigroup’s payout ratio is presently 64.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Oppenheimer lowered their price target on Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. Argus lifted their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Barclays increased their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley decreased their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, BMO Capital Markets increased their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.06.

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.