Acorn Financial Advisory Services Inc. ADV Decreases Holdings in Citigroup Inc. $C

Acorn Financial Advisory Services Inc. ADV cut its holdings in shares of Citigroup Inc. (NYSE:C) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,447 shares of the company’s stock after selling 358 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Citigroup were worth $634,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in C. Brighton Jones LLC raised its stake in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Citigroup by 12.7% during the first quarter. GAMMA Investing LLC now owns 34,236 shares of the company’s stock worth $2,430,000 after acquiring an additional 3,855 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Citigroup by 68.8% during the first quarter. Exchange Traded Concepts LLC now owns 3,642 shares of the company’s stock worth $259,000 after acquiring an additional 1,485 shares in the last quarter. Optas LLC raised its stake in shares of Citigroup by 5.7% during the first quarter. Optas LLC now owns 4,531 shares of the company’s stock worth $322,000 after acquiring an additional 245 shares in the last quarter. Finally, Traphagen Investment Advisors LLC purchased a new position in shares of Citigroup during the first quarter worth approximately $206,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director owned 2,140 shares of the company’s stock, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on C shares. Morgan Stanley raised their target price on shares of Citigroup from $107.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. TD Cowen raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 16th. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Barclays raised their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $99.68.

Citigroup Stock Performance

Shares of C stock opened at $96.18 on Tuesday. The stock has a fifty day moving average of $97.09 and a 200 day moving average of $84.05. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59. The firm has a market capitalization of $177.05 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.83 and a beta of 1.37. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same quarter last year, the firm posted $1.52 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. Citigroup’s dividend payout ratio (DPR) is presently 35.45%.

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.