Stablepoint Partners LLC Acquires 628 Shares of Citigroup Inc. (NYSE:C)

by · The Cerbat Gem

Stablepoint Partners LLC increased its position in Citigroup Inc. (NYSE:C – Free Report) by 10.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,877 shares of the company’s stock after purchasing an additional 628 shares during the quarter. Stablepoint Partners LLC’s holdings in Citigroup were worth $430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new stake in Citigroup in the 3rd quarter valued at approximately $80,000. Polianta Ltd acquired a new position in shares of Citigroup during the 3rd quarter worth approximately $1,183,000. Thomasville National Bank acquired a new position in shares of Citigroup during the 3rd quarter worth approximately $2,747,000. Armstrong Advisory Group Inc. increased its holdings in shares of Citigroup by 72.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,108 shares of the company’s stock worth $69,000 after acquiring an additional 465 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in shares of Citigroup by 6.0% during the 3rd quarter. Sound Income Strategies LLC now owns 323,353 shares of the company’s stock worth $20,242,000 after acquiring an additional 18,200 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on C. Morgan Stanley upped their price objective on Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Royal Bank of Canada increased their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. The Goldman Sachs Group dropped their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Evercore ISI increased their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

Read Our Latest Stock Report on Citigroup

Citigroup Stock Up 0.4 %

Shares of C opened at $66.01 on Tuesday. The company has a market cap of $125.91 billion, a PE ratio of 18.49, a P/E/G ratio of 0.74 and a beta of 1.44. The business has a fifty day moving average of $60.85 and a 200 day moving average of $61.90. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C – Get Free Report) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion during 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 business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $1.37 earnings per share. On average, sell-side analysts expect that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.39%. Citigroup’s payout ratio is presently 62.75%.

Citigroup Company Profile

(Free Report)

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.

Featured Articles