Baker Tilly Wealth Management LLC Lowers Stake in Citigroup Inc. (NYSE:C)

Baker Tilly Wealth Management LLC reduced its stake in shares of Citigroup Inc. (NYSE:C) by 7.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,112 shares of the company’s stock after selling 413 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Citigroup were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FCG Investment Co raised its stake in shares of Citigroup by 7.2% during the third quarter. FCG Investment Co now owns 9,511 shares of the company’s stock worth $595,000 after acquiring an additional 638 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Citigroup by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 233,514 shares of the company’s stock valued at $14,617,000 after purchasing an additional 930 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in Citigroup by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,608 shares of the company’s stock worth $789,000 after purchasing an additional 226 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Citigroup by 20.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 770,610 shares of the company’s stock worth $47,526,000 after purchasing an additional 130,269 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on C shares. Morgan Stanley decreased their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. BMO Capital Markets lifted their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Barclays raised their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Stock Up 3.9 %

Shares of Citigroup stock opened at $64.20 on Tuesday. Citigroup Inc. has a 1 year low of $38.41 and a 1 year high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50-day moving average of $61.72 and a 200 day moving average of $61.99. The firm has a market cap of $122.45 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last posted 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. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s payout ratio is 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.