Independent Advisor Alliance Buys 851 Shares of Citigroup Inc. (NYSE:C)

Independent Advisor Alliance boosted its stake in Citigroup Inc. (NYSE:C) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,252 shares of the company’s stock after purchasing an additional 851 shares during the quarter. Independent Advisor Alliance’s holdings in Citigroup were worth $4,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MONECO Advisors LLC boosted its holdings in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after acquiring an additional 157 shares in the last quarter. Lifestyle Asset Management Inc. boosted its holdings in Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after acquiring an additional 160 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after acquiring an additional 169 shares in the last quarter. Grove Bank & Trust boosted its holdings in Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after acquiring an additional 170 shares in the last quarter. Finally, MWA Asset Management boosted its holdings in Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on C shares. Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Oppenheimer increased their price objective on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays increased their price objective on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Stock Performance

Shares of C opened at $70.73 on Tuesday. 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 company has a market capitalization of $133.77 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 0.78 and a beta of 1.44. The stock has a 50 day moving average of $64.56 and a 200 day moving average of $62.90. Citigroup Inc. has a 12 month low of $44.56 and a 12 month high of $71.19.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating 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 business 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 company earned $1.52 earnings per share. Citigroup’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.17%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) 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.