Canandaigua National Bank & Trust Co. Lowers Position in Citigroup Inc. (NYSE:C)

Canandaigua National Bank & Trust Co. trimmed its stake in Citigroup Inc. (NYSE:C) by 12.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,129 shares of the company’s stock after selling 2,396 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Citigroup were worth $1,010,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. POM Investment Strategies LLC purchased a new stake in Citigroup during the second quarter worth approximately $25,000. Beacon Capital Management LLC grew its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the period. Beaird Harris Wealth Management LLC grew its stake in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the second quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in Citigroup during the second quarter worth approximately $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of NYSE:C traded up $1.33 on Friday, reaching $62.64. 10,100,488 shares of the company’s stock were exchanged, compared to its average volume of 14,445,869. The firm has a market capitalization of $119.48 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.69 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The business’s 50-day moving average is $60.66 and its two-hundred day moving average is $61.74. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Citigroup Inc. will post 5.79 EPS for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is 62.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on C shares. Evercore ISI boosted their price objective on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada upped their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. BMO Capital Markets upped their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Finally, The Goldman Sachs Group decreased their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.