Processus Wealth & Capital Management LLC Sells 2,232 Shares of Citigroup Inc. (NYSE:C)

Processus Wealth & Capital Management LLC trimmed its stake in Citigroup Inc. (NYSE:C) by 5.9% in the 3rd quarter, according to its most recent 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 period. Citigroup makes up about 1.8% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 24th biggest position. Processus Wealth & Capital Management LLC’s holdings in Citigroup were worth $2,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in Citigroup by 7.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,463 shares of the company’s stock worth $409,000 after purchasing an additional 437 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Citigroup by 35.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 64,724 shares of the company’s stock worth $4,093,000 after acquiring an additional 16,802 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Citigroup by 19.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,651 shares of the company’s stock valued at $484,000 after acquiring an additional 1,255 shares during the period. NTV Asset Management LLC bought a new position in Citigroup in the 1st quarter valued at $366,000. Finally, KCM Investment Advisors LLC grew its position in Citigroup by 19.7% in the 1st quarter. KCM Investment Advisors LLC now owns 7,447 shares of the company’s stock valued at $471,000 after acquiring an additional 1,224 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on C. Barclays boosted their target price on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley reduced their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Bank of America boosted their price target on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Oppenheimer raised their price objective on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.06.

Citigroup Stock Performance

Shares of Citigroup stock opened at $68.63 on Friday. The company 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 company has a 50-day simple moving average of $62.42 and a two-hundred day simple moving average of $62.36. Citigroup Inc. has a one year low of $41.28 and a one year high of $70.09. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96.

Citigroup (NYSE:C) last posted its quarterly earnings data 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 analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. Research analysts expect that Citigroup Inc. will post 5.87 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be given a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.26%. Citigroup’s payout ratio is 64.93%.

Citigroup Company 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.