Algert Global LLC Takes Position in Citigroup Inc. (NYSE:C)

Algert Global LLC purchased a new position in shares of Citigroup Inc. (NYSE:C) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 59,047 shares of the company’s stock, valued at approximately $3,696,000.

Other hedge funds have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new position in Citigroup in the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Citigroup during the third quarter worth approximately $28,000. Beacon Capital Management LLC boosted its stake in 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 buying an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Citigroup in the 2nd quarter worth $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley dropped their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Oppenheimer increased their price objective on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Bank of America lifted their target price on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Stock Performance

Shares of C stock opened at $70.73 on Tuesday. Citigroup Inc. has a 52 week low of $44.56 and a 52 week high of $71.19. The firm has a 50 day moving average of $64.56 and a two-hundred day moving average of $62.90. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $133.77 billion, a PE ratio of 20.50, a P/E/G ratio of 0.78 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 EPS. On average, research analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.17%. Citigroup’s dividend payout ratio (DPR) is 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.