Citigroup Inc. (NYSE:C) Position Lessened by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC trimmed its position in shares of Citigroup Inc. (NYSE:C) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,777 shares of the company’s stock after selling 157 shares during the period. Beaumont Financial Advisors LLC’s holdings in Citigroup were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of C. San Luis Wealth Advisors LLC raised its holdings in Citigroup by 119.4% during the third quarter. San Luis Wealth Advisors LLC now owns 10,685 shares of the company’s stock valued at $669,000 after buying an additional 5,815 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new position in Citigroup during the third quarter valued at about $479,000. Private Advisory Group LLC bought a new position in Citigroup during the third quarter valued at about $3,769,000. WealthBridge Investment Counsel Inc. raised its holdings in Citigroup by 1.7% during the third quarter. WealthBridge Investment Counsel Inc. now owns 113,734 shares of the company’s stock valued at $7,120,000 after buying an additional 1,900 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. raised its holdings in Citigroup by 1.9% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 11,454 shares of the company’s stock valued at $717,000 after buying an additional 210 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 3.6 %

NYSE C opened at $65.74 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock’s 50 day moving average is $60.66 and its two-hundred day moving average is $61.89. The company has a market capitalization of $125.42 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 earnings per share. Equities analysts forecast that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.41%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

Analysts Set New Price Targets

Several equities analysts have weighed in on C shares. The Goldman Sachs Group cut their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. BMO Capital Markets raised their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods raised their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Morgan Stanley raised their price target on Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada raised their price target on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $70.33.

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.