Bard Financial Services Inc. Sells 4,745 Shares of Citigroup Inc. (NYSE:C)

Bard Financial Services Inc. cut its stake in Citigroup Inc. (NYSE:C) by 59.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company’s stock after selling 4,745 shares during the quarter. Bard Financial Services Inc.’s holdings in Citigroup were worth $200,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. POM Investment Strategies LLC bought a new position in Citigroup in the second quarter valued at approximately $25,000. Beacon Capital Management LLC lifted its position in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup in the 2nd quarter worth $31,000. Triad Wealth Partners LLC bought a new position in Citigroup during the 2nd quarter worth about $32,000. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Citigroup by 93.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock valued at $36,000 after purchasing an additional 276 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on C. BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods increased their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Argus lifted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Evercore ISI raised their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada upped their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. One equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.06.

Citigroup Trading Up 2.2 %

C traded up $1.33 during trading on Friday, reaching $62.64. 10,100,488 shares of the stock traded hands, compared to its average volume of 14,445,869. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock’s 50-day moving average is $60.61 and its 200 day moving average is $61.77. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The stock has a market capitalization of $119.48 billion, a PE ratio of 17.55, a P/E/G ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 EPS. Equities analysts anticipate that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.58%. 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%.

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.