Sterneck Capital Management LLC Sells 433 Shares of Citigroup Inc. (NYSE:C)

Sterneck Capital Management LLC reduced its position in shares of Citigroup Inc. (NYSE:C) by 6.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,525 shares of the company’s stock after selling 433 shares during the quarter. Sterneck Capital Management LLC’s holdings in Citigroup were worth $408,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. MONECO Advisors LLC grew its holdings in Citigroup by 2.9% during the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after purchasing an additional 157 shares during the period. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after acquiring an additional 164 shares during the period. NorthRock Partners LLC increased its holdings in Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after acquiring an additional 165 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after acquiring an additional 169 shares during the period. Finally, Gries Financial LLC lifted its holdings in Citigroup by 3.0% during the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock valued at $381,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on C. Royal Bank of Canada increased their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. The Goldman Sachs Group cut their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. BMO Capital Markets boosted their price target on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI lifted their price target on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

Citigroup Stock Down 1.2 %

NYSE C opened at $61.31 on Friday. The company has a quick ratio of 0.94, 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 firm has a market capitalization of $116.95 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.69 and a beta of 1.44. The company has a fifty day moving average of $60.66 and a two-hundred day moving average of $61.74.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the previous year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts predict that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.65%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend 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.