Aviso Wealth Management Lowers Position in Citigroup Inc. (NYSE:C)

Aviso Wealth Management lessened its holdings in Citigroup Inc. (NYSE:C) by 35.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,827 shares of the company’s stock after selling 3,769 shares during the period. Aviso Wealth Management’s holdings in Citigroup were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in C. Edgestream Partners L.P. increased its stake in Citigroup by 55.4% in the first quarter. Edgestream Partners L.P. now owns 42,941 shares of the company’s stock valued at $2,716,000 after acquiring an additional 15,312 shares during the last quarter. Bahl & Gaynor Inc. bought a new position in shares of Citigroup during the first quarter valued at about $227,000. Rockport Wealth LLC bought a new position in shares of Citigroup during the first quarter valued at about $316,000. Clearbridge Investments LLC bought a new position in shares of Citigroup during the first quarter valued at about $1,447,000. Finally, Bessemer Group Inc. grew its stake in shares of Citigroup by 28.7% during the first quarter. Bessemer Group Inc. now owns 97,307 shares of the company’s stock valued at $6,154,000 after buying an additional 21,684 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C stock opened at $68.76 on Monday. The firm has a 50 day moving average price of $63.21 and a 200-day moving average price of $62.61. Citigroup Inc. has a 52-week low of $44.32 and a 52-week high of $70.20. The firm has a market capitalization of $130.04 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

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

Citigroup Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group reduced their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Barclays raised their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Oppenheimer raised 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. Finally, Bank of America raised their target price on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.