Keudell Morrison Wealth Management Cuts Position in Citigroup Inc. (NYSE:C)

Keudell Morrison Wealth Management trimmed its position in shares of Citigroup Inc. (NYSE:C) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,253 shares of the company’s stock after selling 622 shares during the period. Keudell Morrison Wealth Management’s holdings in Citigroup were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of C. MONECO Advisors LLC boosted its stake in Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after purchasing an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Citigroup by 4.0% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after buying an additional 164 shares during the period. NorthRock Partners LLC grew its holdings in shares of Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after buying an additional 169 shares during the last quarter. Finally, Grove Bank & Trust increased its position in shares of Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after acquiring an additional 170 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

C stock traded down $0.29 during trading on Thursday, hitting $68.74. The stock had a trading volume of 3,213,386 shares, compared to its average volume of 14,366,474. Citigroup Inc. has a twelve month low of $41.28 and a twelve month high of $70.09. The company’s 50-day moving average price is $62.02 and its two-hundred day moving average price is $62.22. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94. The stock has a market capitalization of $131.14 billion, a P/E ratio of 20.01, a PEG ratio of 0.71 and a beta of 1.44.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $19.86 billion. During the same period in the previous year, the company posted $1.52 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, research analysts predict that Citigroup Inc. will post 5.87 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on C. Oppenheimer raised their price objective on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday. BMO Capital Markets raised 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. Morgan Stanley dropped their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group reduced 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. Finally, Barclays upped their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.06.

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.