Advisors Asset Management Inc. Buys 522 Shares of Citigroup Inc. (NYSE:C)

Advisors Asset Management Inc. grew its stake in Citigroup Inc. (NYSE:C) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 61,872 shares of the company’s stock after purchasing an additional 522 shares during the period. Advisors Asset Management Inc.’s holdings in Citigroup were worth $3,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commerce Bank lifted its position in Citigroup by 1.5% in the third quarter. Commerce Bank now owns 220,244 shares of the company’s stock worth $13,787,000 after buying an additional 3,290 shares during the last quarter. MWA Asset Management lifted its holdings in shares of Citigroup by 1.4% in the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after acquiring an additional 173 shares during the last quarter. West Family Investments Inc. boosted its stake in shares of Citigroup by 10.8% during the 3rd quarter. West Family Investments Inc. now owns 7,086 shares of the company’s stock worth $444,000 after purchasing an additional 692 shares during the period. PNC Financial Services Group Inc. grew its holdings in Citigroup by 1.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 373,148 shares of the company’s stock valued at $23,359,000 after purchasing an additional 5,303 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Citigroup in the 3rd quarter worth about $7,287,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.3 %

Citigroup stock opened at $69.84 on Friday. Citigroup Inc. has a twelve month low of $44.56 and a twelve month high of $70.20. The business has a fifty day moving average of $64.32 and a two-hundred day moving average of $62.84. The firm has a market cap of $132.09 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last issued its quarterly earnings data 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 firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the prior year, the business posted $1.52 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is currently 64.93%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on C shares. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Evercore ISI increased their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Barclays upped their price target 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. Morgan Stanley decreased their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Bank of America upped their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.