Tobam Has $161,000 Stock Holdings in Citigroup Inc. (NYSE:C)

Tobam reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 32.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,576 shares of the company’s stock after selling 1,261 shares during the quarter. Tobam’s holdings in Citigroup were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in C. POM Investment Strategies LLC acquired a new position in Citigroup during the 2nd quarter valued at about $25,000. Beacon Capital Management LLC boosted its position in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC purchased a new position in Citigroup during the 2nd quarter worth $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

C opened at $63.49 on Friday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market capitalization of $121.10 billion, a PE ratio of 17.78, a PEG ratio of 0.69 and a beta of 1.44. The firm’s 50-day moving average price is $60.52 and its 200 day moving average price is $61.85. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter last year, the company posted $1.37 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.53%. Citigroup’s dividend payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on C shares. Argus increased their target price on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Evercore ISI increased their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Oppenheimer lifted their price objective on Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley increased their price target on shares of Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

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.