CENTRAL TRUST Co Increases Stake in Citigroup Inc. (NYSE:C)

CENTRAL TRUST Co boosted its stake in shares of Citigroup Inc. (NYSE:C) by 920.4% during the 3rd quarter, Holdings Channel reports. The firm owned 18,184 shares of the company’s stock after acquiring an additional 16,402 shares during the quarter. CENTRAL TRUST Co’s holdings in Citigroup were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. POM Investment Strategies LLC acquired a new stake in shares of Citigroup during the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in Citigroup during the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC lifted 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 during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Citigroup during the second quarter worth $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Down 2.0 %

Shares of C stock opened at $61.76 on Friday. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The firm has a market capitalization of $117.80 billion, a P/E ratio of 17.30, a PEG ratio of 0.74 and a beta of 1.44. The stock’s fifty day moving average is $61.67 and its two-hundred day moving average is $61.95. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

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 analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the previous year, the business posted $1.52 earnings per share. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. Research analysts expect that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

C has been the topic of several recent research reports. Argus upped their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Evercore ISI raised their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Morgan Stanley decreased their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. BMO Capital Markets raised their price objective 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. Finally, Oppenheimer dropped their price target on shares of Citigroup from $92.00 to $91.00 and set an “outperform” 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 issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.06.

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.