Pinnacle Wealth Management Advisory Group LLC Reduces Stock Holdings in Citigroup Inc. (NYSE:C)

Pinnacle Wealth Management Advisory Group LLC lowered its position in Citigroup Inc. (NYSE:C) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,922 shares of the company’s stock after selling 1,739 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Citigroup were worth $819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Carmel Capital Partners LLC bought a new position in shares of Citigroup in the 3rd quarter worth about $25,000. Orion Capital Management LLC bought a new stake in Citigroup in the fourth quarter worth about $26,000. AlphaMark Advisors LLC grew its position in Citigroup by 75.0% in the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Citigroup during the third quarter worth $35,000. Finally, Rakuten Securities Inc. purchased a new stake in Citigroup during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.2 %

Shares of NYSE:C traded up $0.75 during midday trading on Wednesday, hitting $62.75. 9,754,241 shares of the company’s stock were exchanged, compared to its average volume of 16,539,840. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50 day moving average price of $59.98 and a 200-day moving average price of $53.10. The company has a market cap of $120.18 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last posted its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.38%. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on C shares. HSBC lifted their price target on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 28th. The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a research note on Wednesday, January 10th. Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 target price on shares of Citigroup in a report on Monday, April 1st. Finally, Evercore ISI raised their price target on shares of Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.85.

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.