Captrust Financial Advisors Trims Position in Citigroup Inc. (NYSE:C)

Captrust Financial Advisors lessened its position in shares of Citigroup Inc. (NYSE:C) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 865,971 shares of the company’s stock after selling 6,132 shares during the quarter. Captrust Financial Advisors’ holdings in Citigroup were worth $54,764,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of C. Orion Capital Management LLC bought a new stake in Citigroup during the fourth quarter valued at about $26,000. Frazier Financial Advisors LLC bought a new position in shares of Citigroup in the fourth quarter worth about $29,000. Beaird Harris Wealth Management LLC boosted its stake in shares of Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after acquiring an additional 569 shares during the period. Rakuten Securities Inc. bought a new position in shares of Citigroup in the fourth quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Citigroup in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.5 %

C stock traded up $0.98 during midday trading on Tuesday, reaching $65.28. 6,330,488 shares of the company traded hands, compared to its average volume of 14,779,611. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94. The business has a 50 day moving average of $63.08 and a 200-day moving average of $59.95. The firm has a market capitalization of $124.52 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 0.70 and a beta of 1.46.

Citigroup (NYSE:C) last issued its quarterly 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. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the prior year, the business posted $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 5.84 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.43%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, August 5th. Citigroup’s dividend payout ratio is presently 59.38%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on C shares. Jefferies Financial Group upped their price objective on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Oppenheimer upped their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley increased their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday. 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. Finally, Keefe, Bruyette & Woods increased their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

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.