Processus Wealth & Capital Management LLC Decreases Stake in Citigroup Inc. (NYSE:C)

Processus Wealth & Capital Management LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 5.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,722 shares of the company’s stock after selling 2,232 shares during the quarter. Citigroup comprises approximately 1.8% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Processus Wealth & Capital Management LLC’s holdings in Citigroup were worth $2,236,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in C. POM Investment Strategies LLC purchased a new position in Citigroup during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup in the third quarter worth $28,000. Beacon Capital Management LLC raised its holdings in shares of Citigroup by 85.5% during 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 last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup during the second quarter valued at $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in Citigroup in the second quarter valued at $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on C shares. 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. Bank of America lifted their price target on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, Argus increased their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

Citigroup Trading Up 0.8 %

Shares of Citigroup stock opened at $68.63 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a twelve month low of $41.28 and a twelve month high of $70.09. The firm has a market capitalization of $130.93 billion, a PE ratio of 19.89, a P/E/G ratio of 0.69 and a beta of 1.44. The firm’s 50-day moving average price is $62.42 and its 200 day moving average price is $62.36.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter last year, the business posted $1.52 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts predict that Citigroup Inc. will post 5.87 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 paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.26%. 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.