4,749 Shares in Citigroup Inc. (NYSE:C) Bought by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC bought a new position in shares of Citigroup Inc. (NYSE:C) in the 3rd quarter, Holdings Channel.com reports. The fund bought 4,749 shares of the company’s stock, valued at approximately $297,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its position in shares of Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after acquiring an additional 8,593 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Citigroup by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after purchasing an additional 23,774 shares during the last quarter. BDF Gestion purchased a new stake in shares of Citigroup in the 2nd quarter valued at about $3,861,000. Advisory Services Network LLC lifted its holdings in shares of Citigroup by 23.8% in the 1st quarter. Advisory Services Network LLC now owns 66,509 shares of the company’s stock valued at $4,206,000 after purchasing an additional 12,795 shares during the last quarter. Finally, Chesley Taft & Associates LLC purchased a new stake in shares of Citigroup in the 2nd quarter valued at about $735,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on C. Oppenheimer reduced their target price on Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Evercore ISI upped their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Morgan Stanley reduced their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, BMO Capital Markets upped their price objective on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Price Performance

Shares of C traded up $0.16 on Thursday, reaching $64.66. The stock had a trading volume of 1,182,986 shares, compared to its average volume of 14,294,923. The firm has a market capitalization of $123.36 billion, a PE ratio of 18.70, a PEG ratio of 0.74 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average of $61.87 and a 200 day moving average of $62.05. Citigroup Inc. has a twelve month low of $38.92 and a twelve month high of $67.81.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. Sell-side analysts expect that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

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.