Cassaday & Co Wealth Management LLC Sells 836 Shares of Citigroup Inc. (NYSE:C)

Cassaday & Co Wealth Management LLC lessened its position in shares of Citigroup Inc. (NYSE:C) by 13.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,555 shares of the company’s stock after selling 836 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Citigroup were worth $348,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aljian Capital Management LLC acquired a new position in shares of Citigroup in the 3rd quarter valued at about $1,522,000. Thrivent Financial for Lutherans boosted its holdings in Citigroup by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 145,663 shares of the company’s stock worth $9,118,000 after acquiring an additional 3,482 shares in the last quarter. Claro Advisors LLC grew its position in Citigroup by 18.5% in the 3rd quarter. Claro Advisors LLC now owns 12,559 shares of the company’s stock valued at $786,000 after purchasing an additional 1,965 shares during the period. Concord Asset Management LLC VA grew its holdings in shares of Citigroup by 6.5% during the third quarter. Concord Asset Management LLC VA now owns 9,475 shares of the company’s stock valued at $593,000 after buying an additional 576 shares during the last quarter. Finally, Schear Investment Advisers LLC boosted its stake in Citigroup by 16.6% during the 3rd quarter. Schear Investment Advisers LLC now owns 31,218 shares of the company’s stock valued at $1,954,000 after purchasing an additional 4,443 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.4 %

Shares of C opened at $69.01 on Tuesday. Citigroup Inc. has a twelve month low of $44.56 and a twelve month high of $70.20. The stock has a market cap of $130.52 billion, a PE ratio of 20.00, a P/E/G ratio of 0.77 and a beta of 1.44. 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 business’s 50-day moving average price is $63.40 and its 200-day moving average price is $62.66.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion for 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 prior year, the firm posted $1.52 EPS. On average, equities analysts forecast that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.25%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Analysts Set New Price Targets

Several analysts have recently issued reports on C shares. Barclays upped 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. Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday. Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Bank of America raised 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. Finally, Morgan Stanley cut their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.