Cassaday & Co Wealth Management LLC Lowers Stake in Citigroup Inc. (NYSE:C)

Cassaday & Co Wealth Management LLC cut its stake in Citigroup Inc. (NYSE:C) by 13.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,555 shares of the company’s stock after selling 836 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Citigroup were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in C. POM Investment Strategies LLC bought a new stake in shares of Citigroup in the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in Citigroup during the third quarter valued at about $28,000. Beacon Capital Management LLC grew its stake in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup in the second quarter worth about $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at about $32,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on C shares. Wells Fargo & Company increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI raised their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Barclays upped their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Trading Up 0.4 %

NYSE:C opened at $69.01 on Tuesday. The stock has a market cap of $130.52 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a 52 week low of $44.56 and a 52 week high of $70.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The company’s 50 day moving average price is $63.40 and its 200-day moving average price is $62.66.

Citigroup (NYSE:C) last announced its quarterly earnings results 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 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the prior year, the company posted $1.52 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

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.