Hennessy Advisors Inc. Lowers Holdings in Citigroup Inc. (NYSE:C)

Hennessy Advisors Inc. trimmed its holdings in Citigroup Inc. (NYSE:C) by 4.1% in the 1st quarter, HoldingsChannel reports. The fund owned 124,200 shares of the company’s stock after selling 5,300 shares during the quarter. Hennessy Advisors Inc.’s holdings in Citigroup were worth $7,854,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Tejara Capital Ltd purchased a new position in shares of Citigroup during the third quarter worth $18,768,000. Treasurer of the State of North Carolina boosted its position in shares of Citigroup by 0.3% during the third quarter. Treasurer of the State of North Carolina now owns 878,795 shares of the company’s stock worth $36,145,000 after buying an additional 3,060 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Citigroup by 30.7% during the third quarter. Tower Research Capital LLC TRC now owns 65,765 shares of the company’s stock worth $2,705,000 after buying an additional 15,434 shares during the period. Staley Capital Advisers Inc. boosted its position in shares of Citigroup by 6.1% during the third quarter. Staley Capital Advisers Inc. now owns 312,494 shares of the company’s stock worth $12,853,000 after buying an additional 18,081 shares during the period. Finally, Toronto Dominion Bank boosted its position in shares of Citigroup by 16.3% during the third quarter. Toronto Dominion Bank now owns 3,364,292 shares of the company’s stock worth $138,373,000 after buying an additional 472,633 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

C has been the subject of a number of recent research reports. Jefferies Financial Group lifted their target price on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Royal Bank of Canada lifted their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, Keefe, Bruyette & Woods lifted their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.03.

Citigroup Stock Performance

Shares of C traded up $1.36 during midday trading on Friday, reaching $62.91. 8,306,191 shares of the stock were exchanged, compared to its average volume of 14,989,434. The business’s 50-day moving average price is $61.98 and its 200 day moving average price is $57.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $64.98. The company has a market capitalization of $120.00 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 0.94 and a beta of 1.48.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same quarter last year, the company posted $1.86 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio is currently 62.72%.

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.