Seaview Investment Managers LLC Cuts Stock Position in Citigroup Inc. (NYSE:C)

Seaview Investment Managers LLC lessened its stake in shares of Citigroup Inc. (NYSE:C) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,812 shares of the company’s stock after selling 377 shares during the period. Seaview Investment Managers LLC’s holdings in Citigroup were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gryphon Financial Partners LLC lifted its stake in Citigroup by 215.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock worth $800,000 after purchasing an additional 10,632 shares during the last quarter. AGF Management Ltd. lifted its stake in Citigroup by 42.4% in the fourth quarter. AGF Management Ltd. now owns 34,769 shares of the company’s stock worth $1,789,000 after purchasing an additional 10,360 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Citigroup by 1.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 47,922 shares of the company’s stock worth $2,465,000 after purchasing an additional 861 shares during the last quarter. Ieq Capital LLC lifted its stake in Citigroup by 52.3% in the fourth quarter. Ieq Capital LLC now owns 37,848 shares of the company’s stock worth $1,947,000 after purchasing an additional 12,991 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in Citigroup by 18.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 13,741 shares of the company’s stock worth $707,000 after purchasing an additional 2,120 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.8 %

Shares of Citigroup stock opened at $59.54 on Tuesday. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a 50-day simple moving average of $62.36 and a two-hundred day simple moving average of $61.32. The company has a market cap of $113.59 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.45.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. As a group, equities analysts predict that Citigroup Inc. will post 5.82 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.76%. Citigroup’s dividend payout ratio is 62.75%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on C shares. Oppenheimer lifted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Evercore ISI lifted their price objective on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Morgan Stanley lifted their price objective on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, BMO Capital Markets lifted their price objective on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.06.

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.