Pinnacle Wealth Planning Services Inc. Increases Position in Citigroup Inc. (NYSE:C)

Pinnacle Wealth Planning Services Inc. raised its position in Citigroup Inc. (NYSE:C) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,295 shares of the company’s stock after purchasing an additional 164 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Citigroup were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of C. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the 4th quarter worth $26,000. Frazier Financial Advisors LLC purchased a new position in shares of Citigroup in the 4th quarter valued at about $29,000. Beaird Harris Wealth Management LLC increased its holdings in shares of Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after purchasing an additional 569 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of Citigroup in the 4th quarter valued at about $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of Citigroup in the 4th quarter valued at about $39,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on C. Royal Bank of Canada raised their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Jefferies Financial Group raised their target price on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Oppenheimer raised their target price on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.25.

Citigroup Stock Performance

C stock traded up $0.25 during trading on Friday, hitting $65.14. 8,583,112 shares of the company’s stock traded hands, compared to its average volume of 14,301,064. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The stock has a fifty day moving average price of $63.00 and a two-hundred day moving average price of $59.44. The stock has a market capitalization of $124.25 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.71 and a beta of 1.46.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (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 the consensus estimate of $20.07 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.44%. The ex-dividend date is Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is presently 62.75%.

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.