First Horizon Advisors Inc. Grows Stock Holdings in Citigroup Inc. (NYSE:C)

First Horizon Advisors Inc. grew its holdings in Citigroup Inc. (NYSE:C) by 3.8% during the third quarter, HoldingsChannel.com reports. The fund owned 322,629 shares of the company’s stock after purchasing an additional 11,746 shares during the quarter. First Horizon Advisors Inc.’s holdings in Citigroup were worth $20,197,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in C. POM Investment Strategies LLC acquired a new position in shares of Citigroup during the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in Citigroup in the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC raised its stake in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup during the second quarter worth $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Citigroup in the second quarter valued at $32,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Evercore ISI increased their target price on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Barclays increased their price objective on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Bank of America boosted their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One research 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Price Performance

Shares of NYSE C opened at $68.62 on Wednesday. The firm’s 50-day simple moving average is $63.62 and its 200 day simple moving average is $62.71. The stock has a market cap of $129.78 billion, a P/E ratio of 19.89, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a fifty-two week low of $44.56 and a fifty-two week high of $70.20.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

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.