Modera Wealth Management LLC Cuts Holdings in Citigroup Inc. (NYSE:C)

Modera Wealth Management LLC lessened its stake in Citigroup Inc. (NYSE:C) by 14.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,066 shares of the company’s stock after selling 1,191 shares during the period. Modera Wealth Management LLC’s holdings in Citigroup were worth $442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. POM Investment Strategies LLC purchased a new stake in shares of Citigroup in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the 3rd quarter valued at $28,000. Beacon Capital Management LLC boosted its stake in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Citigroup in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of a number of research reports. BMO Capital Markets upped their price objective 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. Argus upped their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Morgan Stanley lowered their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. 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. Finally, Bank of America upped their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Stock Up 3.9 %

Shares of Citigroup stock opened at $64.20 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50-day moving average of $61.72 and a 200 day moving average of $61.99. The firm has a market cap of $122.45 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a 1 year low of $38.41 and a 1 year high of $67.81.

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 the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business earned $1.52 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.49%. Citigroup’s payout ratio is 62.75%.

About Citigroup

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.