AM Investment Strategies LLC Acquires 5,310 Shares of Citigroup Inc. (NYSE:C)

AM Investment Strategies LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 15.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,635 shares of the company’s stock after acquiring an additional 5,310 shares during the quarter. Citigroup comprises approximately 0.6% of AM Investment Strategies LLC’s portfolio, making the stock its 26th biggest holding. AM Investment Strategies LLC’s holdings in Citigroup were worth $2,481,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. J.W. Cole Advisors Inc. boosted its holdings in Citigroup by 11.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 14,128 shares of the company’s stock valued at $894,000 after purchasing an additional 1,431 shares during the period. Private Advisor Group LLC boosted its stake in Citigroup by 6.1% during the first quarter. Private Advisor Group LLC now owns 162,473 shares of the company’s stock valued at $10,275,000 after buying an additional 9,388 shares during the period. Diversify Advisory Services LLC purchased a new position in Citigroup during the first quarter worth about $1,035,000. Mission Wealth Management LP bought a new position in Citigroup in the 1st quarter worth about $291,000. Finally, Prosperity Consulting Group LLC boosted its position in shares of Citigroup by 17.0% during the 1st quarter. Prosperity Consulting Group LLC now owns 6,231 shares of the company’s stock valued at $394,000 after acquiring an additional 907 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on C. Bank of America raised their target price on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. BMO Capital Markets boosted their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Argus lifted their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Stock Down 0.7 %

Citigroup stock traded down $0.46 on Friday, hitting $63.71. 11,557,690 shares of the stock traded hands, compared to its average volume of 14,323,738. Citigroup Inc. has a 1 year low of $39.93 and a 1 year high of $67.81. The firm has a market cap of $121.55 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 0.72 and a beta of 1.44. 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 business’s fifty day simple moving average is $61.97 and its 200 day simple moving average is $62.10.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

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.