Summit Trail Advisors LLC Sells 2,522 Shares of Citigroup Inc. (NYSE:C)

Summit Trail Advisors LLC lowered its stake in Citigroup Inc. (NYSE:C) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,539 shares of the company’s stock after selling 2,522 shares during the quarter. Summit Trail Advisors LLC’s holdings in Citigroup were worth $2,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. POM Investment Strategies LLC acquired a new position in Citigroup during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the third quarter worth $28,000. Beacon Capital Management LLC boosted its holdings in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in Citigroup in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $69.84 on Monday. The firm has a market cap of $132.09 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.77 and a beta of 1.44. The stock’s 50 day moving average is $64.32 and its 200 day moving average is $62.85. 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 Inc. has a one year low of $44.56 and a one year high of $70.20.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley reduced their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. 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. Barclays upped their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group dropped their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.