Schear Investment Advisers LLC Increases Position in Citigroup Inc. (NYSE:C)

Schear Investment Advisers LLC increased its holdings in Citigroup Inc. (NYSE:C) by 16.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 31,218 shares of the company’s stock after acquiring an additional 4,443 shares during the quarter. Citigroup comprises approximately 1.2% of Schear Investment Advisers LLC’s investment portfolio, making the stock its 23rd largest holding. Schear Investment Advisers LLC’s holdings in Citigroup were worth $1,954,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC raised its position in shares of Citigroup by 2.6% in the 3rd quarter. Natixis Advisors LLC now owns 1,585,941 shares of the company’s stock valued at $99,280,000 after purchasing an additional 39,784 shares in the last quarter. Seelaus Asset Management LLC increased its stake in shares of Citigroup by 18.2% in the third quarter. Seelaus Asset Management LLC now owns 8,096 shares of the company’s stock worth $507,000 after buying an additional 1,245 shares during the last quarter. Empowered Funds LLC raised its holdings in Citigroup by 9.7% in the third quarter. Empowered Funds LLC now owns 41,171 shares of the company’s stock valued at $2,577,000 after acquiring an additional 3,630 shares in the last quarter. Empirical Finance LLC boosted its stake in Citigroup by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 67,354 shares of the company’s stock valued at $4,216,000 after acquiring an additional 1,384 shares during the last quarter. Finally, First Business Financial Services Inc. grew its holdings in Citigroup by 3.3% during the 3rd quarter. First Business Financial Services Inc. now owns 39,361 shares of the company’s stock worth $2,464,000 after acquiring an additional 1,257 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE C opened at $68.76 on Friday. Citigroup Inc. has a 12 month low of $44.32 and a 12 month high of $70.20. The firm has a market capitalization of $130.04 billion, a PE ratio of 19.93, a P/E/G ratio of 0.77 and a beta of 1.44. The company’s 50 day simple moving average is $63.21 and its 200 day simple moving average is $62.60. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same period last year, the firm earned $1.52 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is currently 64.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday. Barclays raised their price objective on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Citigroup 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.