Infrastructure Capital Advisors LLC Acquires 2,723 Shares of Citigroup Inc. (NYSE:C)

Infrastructure Capital Advisors LLC boosted its stake in Citigroup Inc. (NYSE:C) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,261 shares of the company’s stock after buying an additional 2,723 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Citigroup were worth $2,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Citigroup by 13.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after buying an additional 8,593 shares during the period. BDF Gestion purchased a new stake in Citigroup in the second quarter worth about $3,861,000. KBC Group NV lifted its holdings in shares of Citigroup by 1.8% during the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after purchasing an additional 20,291 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Citigroup by 4.9% during the third quarter. Crossmark Global Holdings Inc. now owns 394,738 shares of the company’s stock valued at $24,710,000 after purchasing an additional 18,278 shares during the last quarter. Finally, Summit Global Investments lifted its holdings in shares of Citigroup by 289.5% during the third quarter. Summit Global Investments now owns 30,640 shares of the company’s stock valued at $1,918,000 after purchasing an additional 22,774 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.6 %

NYSE:C opened at $70.16 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12 month low of $44.56 and a 12 month high of $71.19. The company has a market cap of $132.69 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The company has a 50 day simple moving average of $64.98 and a two-hundred day simple moving average of $62.99.

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

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 dividend yield of 3.19%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

C has been the subject of several recent research reports. The Goldman Sachs Group lowered their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Barclays lifted their target price 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. Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI boosted their price objective on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley decreased their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $73.00.

About Citigroup

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.