First Business Financial Services Inc. Acquires 1,257 Shares of Citigroup Inc. (NYSE:C)

First Business Financial Services Inc. grew its holdings in shares of Citigroup Inc. (NYSE:C) by 3.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 39,361 shares of the company’s stock after acquiring an additional 1,257 shares during the quarter. First Business Financial Services Inc.’s holdings in Citigroup were worth $2,464,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after purchasing an additional 8,593 shares during the period. Lazard Asset Management LLC grew its holdings in Citigroup by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after acquiring an additional 23,774 shares during the last quarter. BDF Gestion purchased a new position in shares of Citigroup in the second quarter valued at about $3,861,000. Chesley Taft & Associates LLC bought a new position in shares of Citigroup during the second quarter valued at about $735,000. Finally, Summit Global Investments boosted its holdings in shares of Citigroup by 289.5% during the third quarter. Summit Global Investments now owns 30,640 shares of the company’s stock worth $1,918,000 after purchasing an additional 22,774 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Oppenheimer upped their price target on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Bank of America lifted their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised 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. Morgan Stanley reduced their price target 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. Finally, Barclays raised their price objective on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Stock Down 1.1 %

Citigroup stock opened at $68.13 on Friday. Citigroup Inc. has a 12 month low of $44.32 and a 12 month high of $70.20. The stock has a fifty day simple moving average of $63.02 and a two-hundred day simple moving average of $62.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The firm has a market cap of $128.85 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 0.77 and a beta of 1.44.

Citigroup (NYSE:C) last issued 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. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the firm earned $1.52 EPS. Citigroup’s revenue was up .9% on a year-over-year basis. Equities analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.29%. Citigroup’s dividend payout ratio is currently 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.