Carnegie Investment Counsel Cuts Stock Position in Citigroup Inc. (NYSE:C)

Carnegie Investment Counsel decreased its position in shares of Citigroup Inc. (NYSE:C) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,199 shares of the company’s stock after selling 800 shares during the period. Carnegie Investment Counsel’s holdings in Citigroup were worth $451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new stake in Citigroup during the 2nd quarter worth $25,000. Beacon Capital Management LLC grew its holdings in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup during the 2nd quarter worth $31,000. Triad Wealth Partners LLC acquired a new position in Citigroup during the 2nd quarter worth $32,000. Finally, Strategic Financial Concepts LLC grew its holdings in Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after acquiring an additional 48,484 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on C. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Oppenheimer raised their price objective on shares of Citigroup from $87.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Argus raised their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group lowered their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

Citigroup Trading Up 0.4 %

Shares of NYSE:C opened at $66.01 on Tuesday. The company has a 50 day moving average of $60.85 and a 200-day moving average of $61.90. The firm has a market cap of $125.91 billion, a P/E ratio of 18.49, a P/E/G ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

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 analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. As a group, analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Increases Dividend

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