Certified Advisory Corp Boosts Position in Citigroup Inc. (NYSE:C)

Certified Advisory Corp boosted its holdings in Citigroup Inc. (NYSE:C) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,108 shares of the company’s stock after buying an additional 257 shares during the period. Certified Advisory Corp’s holdings in Citigroup were worth $451,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. DRW Securities LLC raised its holdings in Citigroup by 11.2% in the second quarter. DRW Securities LLC now owns 101,276 shares of the company’s stock valued at $6,427,000 after buying an additional 10,182 shares during the period. EverSource Wealth Advisors LLC grew its position in Citigroup by 25.6% in the second quarter. EverSource Wealth Advisors LLC now owns 7,078 shares of the company’s stock valued at $459,000 after acquiring an additional 1,441 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Citigroup in the second quarter valued at approximately $63,000. First City Capital Management Inc. grew its position in Citigroup by 26.4% in the second quarter. First City Capital Management Inc. now owns 8,808 shares of the company’s stock valued at $559,000 after acquiring an additional 1,840 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its position in Citigroup by 25.2% in the second quarter. Fidelis Capital Partners LLC now owns 22,780 shares of the company’s stock valued at $1,446,000 after acquiring an additional 4,588 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $62.58 on Tuesday. The company has a market cap of $119.37 billion, a PE ratio of 17.53, a P/E/G ratio of 0.62 and a beta of 1.45. The company has a fifty day moving average price of $61.30 and a two-hundred day moving average price of $61.53. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. 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 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.37 earnings per share. Research analysts expect that Citigroup Inc. will post 5.81 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. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on C shares. Keefe, Bruyette & Woods increased their price objective 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. The Goldman Sachs Group lowered their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Oppenheimer increased their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley raised their price target on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI raised their price target on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.25.

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.