Allen Wealth Management LLC Boosts Holdings in Citigroup Inc. (NYSE:C)

Allen Wealth Management LLC grew its position in Citigroup Inc. (NYSE:C) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,194 shares of the company’s stock after purchasing an additional 3,718 shares during the quarter. Citigroup comprises approximately 1.4% of Allen Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Allen Wealth Management LLC’s holdings in Citigroup were worth $1,953,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in C. Mission Wealth Management LP acquired a new stake in Citigroup in the 1st quarter worth approximately $291,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Citigroup by 6.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 424,873 shares of the company’s stock worth $26,869,000 after buying an additional 25,359 shares during the period. Choreo LLC grew its holdings in shares of Citigroup by 33.8% during the first quarter. Choreo LLC now owns 8,615 shares of the company’s stock valued at $545,000 after buying an additional 2,174 shares during the last quarter. BNP Paribas acquired a new position in shares of Citigroup in the 1st quarter valued at $1,306,000. Finally, Daiwa Securities Group Inc. raised its stake in Citigroup by 4.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 221,802 shares of the company’s stock worth $14,025,000 after acquiring an additional 8,649 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on C. Morgan Stanley dropped their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. BMO Capital Markets upped their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Oppenheimer cut their price objective on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 16th. Finally, Barclays boosted their target price on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Stock Down 0.7 %

Shares of NYSE:C opened at $63.71 on Friday. The business has a 50-day moving average price of $61.97 and a 200 day moving average price of $62.13. Citigroup Inc. has a 12-month low of $39.93 and a 12-month high of $67.81. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $121.55 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 0.72 and a beta of 1.44.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. Sell-side analysts expect that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.52%. Citigroup’s dividend payout ratio (DPR) is presently 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.