Benedict Financial Advisors Inc. Sells 2,035 Shares of Citigroup Inc. (NYSE:C)

Benedict Financial Advisors Inc. lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,113 shares of the company’s stock after selling 2,035 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Citigroup were worth $1,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of C. POM Investment Strategies LLC purchased a new position in shares of Citigroup in the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the third quarter valued at about $28,000. Beacon Capital Management LLC grew its position in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup during the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC bought a new position in Citigroup in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of a number of research analyst reports. Piper Sandler upped their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Bank of America raised their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Oppenheimer dropped their price target on Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Price Performance

Shares of NYSE C traded down $1.24 during mid-day trading on Friday, reaching $61.76. The company’s stock had a trading volume of 9,697,845 shares, compared to its average volume of 14,373,945. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The stock has a fifty day moving average of $61.67 and a two-hundred day moving average of $61.95. The firm has a market capitalization of $117.80 billion, a PE ratio of 17.30, a P/E/G ratio of 0.74 and a beta of 1.44.

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 the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.52 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Citigroup Dividend Announcement

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

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.