Dumont & Blake Investment Advisors LLC Cuts Stock Position in Citigroup Inc. (NYSE:C)

Dumont & Blake Investment Advisors LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 49.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,153 shares of the company’s stock after selling 7,888 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Citigroup were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new stake in shares of Citigroup during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Citigroup during the 3rd quarter valued at $28,000. Beacon Capital Management LLC increased its stake 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 buying an additional 212 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the 2nd quarter worth $31,000. Finally, Triad Wealth Partners LLC acquired a new position in Citigroup in the 2nd quarter worth $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of C stock opened at $61.76 on Friday. The company has a market cap of $117.80 billion, a P/E ratio of 17.30, a PEG ratio of 0.74 and a beta of 1.44. The business has a 50 day moving average of $61.67 and a two-hundred day moving average of $61.95. 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) last released its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts anticipate that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.63%. Citigroup’s dividend payout ratio is presently 62.75%.

Analyst Ratings Changes

Several analysts have recently weighed in on C shares. Oppenheimer lowered their target price on Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Argus lifted their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Barclays increased their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Piper Sandler raised their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Bank of America upped their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.06.

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.