Harvest Portfolios Group Inc. Raises Holdings in Citigroup Inc. (NYSE:C)

Harvest Portfolios Group Inc. increased its position in Citigroup Inc. (NYSE:C) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,217 shares of the company’s stock after buying an additional 2,304 shares during the period. Harvest Portfolios Group Inc.’s holdings in Citigroup were worth $5,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MONECO Advisors LLC boosted its holdings in shares of Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after acquiring an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Citigroup by 4.0% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares during the period. NorthRock Partners LLC boosted its holdings in Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. grew its position in Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the period. Finally, Grove Bank & Trust raised its stake in shares of Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

C has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI boosted their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Bank of America raised their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Barclays increased their target price on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Citigroup Price Performance

NYSE:C opened at $68.68 on Wednesday. The stock has a 50 day moving average price of $61.98 and a 200 day moving average price of $62.19. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96. The stock has a market cap of $131.03 billion, a PE ratio of 18.46, a P/E/G ratio of 0.71 and a beta of 1.44. Citigroup Inc. has a one year low of $41.28 and a one year high of $68.68.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping 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 company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 5.87 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio 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.