Farmers Trust Co. Buys 338 Shares of Citigroup Inc. (NYSE:C)

Farmers Trust Co. raised its position in Citigroup Inc. (NYSE:C) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,716 shares of the company’s stock after buying an additional 338 shares during the quarter. Farmers Trust Co.’s holdings in Citigroup were worth $5,303,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after acquiring an additional 17,525,484 shares during the last quarter. Swedbank AB acquired a new position in Citigroup during the 1st quarter worth approximately $253,286,000. Acadian Asset Management LLC grew its stake in shares of Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares during the last quarter. Caxton Associates LP increased its holdings in shares of Citigroup by 7,393.3% during the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Citigroup by 873.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock valued at $135,262,000 after acquiring an additional 1,919,170 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

NYSE C opened at $61.31 on Friday. The firm has a market cap of $116.95 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The company’s 50 day moving average is $60.66 and its 200-day moving average is $61.74. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts predict that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.65%. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on C shares. Morgan Stanley raised their price objective on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets lifted their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. The Goldman Sachs Group decreased their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Evercore ISI lifted their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

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.