Fifth Third Wealth Advisors LLC Trims Position in Citigroup Inc. (NYSE:C)

by · The Cerbat Gem

Fifth Third Wealth Advisors LLC reduced its holdings in Citigroup Inc. (NYSE:C – Free Report) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,395 shares of the company’s stock after selling 164 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Citigroup were worth $1,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in C. POM Investment Strategies LLC purchased a new position in Citigroup in the second quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup during the 3rd quarter valued at about $28,000. Beacon Capital Management LLC raised its holdings in 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 purchasing an additional 212 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup during the second quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in Citigroup in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on C. Oppenheimer upped their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. 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 report on Wednesday, October 16th. Morgan Stanley decreased their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company increased their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI lifted their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

View Our Latest Analysis on Citigroup

Citigroup Price Performance

Shares of C opened at $68.62 on Wednesday. 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. The company has a market cap of $129.78 billion, a P/E ratio of 19.89, a PEG ratio of 0.77 and a beta of 1.44. The firm’s 50 day moving average price is $63.62 and its 200 day moving average price is $62.71.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter last year, the business posted $1.52 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup Company Profile

(Free Report)

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.

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