Citigroup Inc. (NYSE:C) Position Increased by Cerity Partners LLC

Cerity Partners LLC increased its stake in Citigroup Inc. (NYSE:C) by 59.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 860,907 shares of the company’s stock after purchasing an additional 320,568 shares during the period. Cerity Partners LLC’s holdings in Citigroup were worth $53,893,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in C. POM Investment Strategies LLC bought a new stake in Citigroup during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup during the 3rd quarter valued at $28,000. Beacon Capital Management LLC raised its stake 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 acquiring an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup during the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup during the 2nd quarter valued at $32,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays lifted their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Bank of America lifted their price target on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer lifted their price target on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley lowered their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Stock Performance

Shares of NYSE C opened at $69.84 on Friday. Citigroup Inc. has a 52-week low of $44.56 and a 52-week high of $70.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $132.09 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 0.77 and a beta of 1.44. The stock’s fifty day simple moving average is $64.32 and its 200 day simple moving average is $62.85.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. As a group, sell-side analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.21%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

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.