Perigon Wealth Management LLC Decreases Holdings in Citigroup Inc (NYSE:C)

Perigon Wealth Management LLC lowered its position in Citigroup Inc (NYSE:C) by 12.9% during the second quarter, HoldingsChannel.com reports. The fund owned 14,867 shares of the financial services provider’s stock after selling 2,205 shares during the quarter. Perigon Wealth Management LLC’s holdings in Citigroup were worth $760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. grew its holdings in Citigroup by 71.6% in the first quarter. Lenox Wealth Management Inc. now owns 647 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 270 shares during the last quarter. Lenox Wealth Advisors LLC purchased a new position in Citigroup during the 2nd quarter valued at about $27,000. Larson Financial Group LLC grew its position in shares of Citigroup by 47.1% in the first quarter. Larson Financial Group LLC now owns 756 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 242 shares during the last quarter. Rocky Mountain Advisers LLC purchased a new stake in Citigroup during the 2nd quarter worth about $36,000. Finally, CVA Family Office LLC purchased a new stake in Citigroup in the 1st quarter worth approximately $37,000. 77.29% of the stock is owned by hedge funds and other institutional investors.

C has been the topic of several recent research reports. Royal Bank of Canada restated a “buy” rating and set a $58.00 target price on shares of Citigroup in a report on Friday, July 3rd. Piper Sandler lowered their target price on Citigroup from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, April 3rd. Argus raised Citigroup from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, April 20th. They noted that the move was a valuation call. Standpoint Research lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, BMO Capital Markets boosted their target price on shares of Citigroup from $82.00 to $87.00 in a research note on Wednesday, July 15th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Citigroup has a consensus rating of “Buy” and an average target price of $74.03.

Citigroup stock opened at $50.01 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. Citigroup Inc has a 12 month low of $32.00 and a 12 month high of $83.11. The company’s fifty day simple moving average is $51.41 and its 200-day simple moving average is $55.63. The stock has a market cap of $105.90 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.49 and a beta of 1.82.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $19.77 billion for the quarter, compared to analyst estimates of $19.06 billion. Citigroup had a net margin of 13.64% and a return on equity of 7.40%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 earnings per share. On average, equities research analysts expect that Citigroup Inc will post 3.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.08%. The ex-dividend date is Friday, July 31st. Citigroup’s dividend payout ratio is currently 26.91%.

Citigroup Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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