Citigroup Inc. (NYSE:C) Position Decreased by Resurgent Financial Advisors LLC

Resurgent Financial Advisors LLC lowered its holdings in Citigroup Inc. (NYSE:C) by 29.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,636 shares of the company’s stock after selling 1,518 shares during the period. Resurgent Financial Advisors LLC’s holdings in Citigroup were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Orion Capital Management LLC purchased a new position in Citigroup in the 4th quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new stake in shares of Citigroup during the fourth quarter valued at approximately $29,000. Beaird Harris Wealth Management LLC lifted its position in shares of Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Citigroup in the 4th quarter worth approximately $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Citigroup during the 4th quarter worth approximately $39,000. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on C. Oppenheimer increased their target price on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Argus raised their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods lifted their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. BMO Capital Markets increased their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, HSBC boosted their price objective on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.25.

Citigroup Stock Up 0.3 %

Shares of C traded up $0.22 during trading hours on Tuesday, hitting $64.72. 3,474,150 shares of the company were exchanged, compared to its average volume of 14,937,516. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94. The company has a market cap of $123.45 billion, a PE ratio of 18.14, a PEG ratio of 0.71 and a beta of 1.46. The firm’s 50 day moving average is $63.02 and its 200-day moving average is $59.56. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is 59.38%.

Citigroup 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.