Norden Group LLC Trims Stock Position in Citigroup Inc. (NYSE:C)

Norden Group LLC trimmed its stake in Citigroup Inc. (NYSE:C) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,438 shares of the company’s stock after selling 866 shares during the period. Norden Group LLC’s holdings in Citigroup were worth $1,107,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of C. POM Investment Strategies LLC bought a new stake in Citigroup during the 2nd quarter valued at approximately $25,000. Frazier Financial Advisors LLC bought a new stake in shares of Citigroup during the fourth quarter valued at approximately $29,000. Beacon Capital Management LLC grew its stake in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after purchasing an additional 569 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Citigroup during the second quarter valued at $32,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C opened at $59.09 on Friday. The company’s 50-day simple moving average is $62.44 and its two-hundred day simple moving average is $61.25. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $112.71 billion, a P/E ratio of 16.55, a P/E/G ratio of 0.68 and a beta of 1.45. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company posted $1.37 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts predict that Citigroup Inc. will post 5.82 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 given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is 62.75%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on C. Oppenheimer upped their target price on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley upped their price objective on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Evercore ISI lifted their target price on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. BMO Capital Markets upped their price target on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.06.

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.