Concord Wealth Partners Has $694,000 Stake in Citigroup Inc. (NYSE:C)

Concord Wealth Partners boosted its stake in shares of Citigroup Inc. (NYSE:C) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,092 shares of the company’s stock after buying an additional 420 shares during the quarter. Concord Wealth Partners’ holdings in Citigroup were worth $694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. POM Investment Strategies LLC acquired a new position in shares of Citigroup in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup in the 3rd quarter valued at about $28,000. Beacon Capital Management LLC increased its position in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup in the 2nd quarter valued at about $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup in the 2nd quarter valued at about $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on C shares. The Goldman Sachs Group reduced their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Evercore ISI upped their target price on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. 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 increased their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned 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 $71.06.

Citigroup Stock Up 3.6 %

Shares of C stock traded up $2.23 during trading hours on Monday, hitting $63.99. 3,987,065 shares of the company’s stock traded hands, compared to its average volume of 14,324,729. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 12-month low of $38.41 and a 12-month high of $67.81. The stock has a market cap of $122.06 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.74 and a beta of 1.44. The stock’s fifty day simple moving average is $61.67 and its two-hundred day simple moving average is $61.97.

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

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio is presently 62.75%.

Citigroup Profile

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.