Tevis Investment Management Acquires 631 Shares of Citigroup Inc. (NYSE:C)

Tevis Investment Management raised its holdings in shares of Citigroup Inc. (NYSE:C) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,396 shares of the company’s stock after purchasing an additional 631 shares during the quarter. Tevis Investment Management’s holdings in Citigroup were worth $1,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC bought a new position in shares of Citigroup during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup during the third quarter worth $28,000. Beacon Capital Management LLC boosted its position in shares of Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup in the second quarter valued at about $31,000. Finally, Triad Wealth Partners LLC bought a new position in Citigroup during the second quarter worth about $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

NYSE C opened at $64.51 on Thursday. Citigroup Inc. has a fifty-two week low of $38.92 and a fifty-two week high of $67.81. The stock has a market cap of $123.07 billion, a PE ratio of 18.70, a PEG ratio of 0.74 and a beta of 1.44. 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 firm’s fifty day moving average price is $61.87 and its two-hundred day moving average price is $62.05.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during 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 business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. On average, equities analysts expect that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on C. Evercore ISI increased their target price on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Barclays raised their price objective on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Argus upped their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler boosted their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Morgan Stanley decreased their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven 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 price target of $71.06.

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.