North American Management Corp Sells 1,225 Shares of Citigroup Inc (NYSE:C)

North American Management Corp trimmed its holdings in shares of Citigroup Inc (NYSE:C) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,498 shares of the financial services provider’s stock after selling 1,225 shares during the quarter. North American Management Corp’s holdings in Citigroup were worth $875,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in C. Liberty Wealth Management LLC lifted its holdings in shares of Citigroup by 27.2% during the second quarter. Liberty Wealth Management LLC now owns 1,445 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 309 shares during the period. Meritage Portfolio Management acquired a new position in shares of Citigroup during the 2nd quarter worth approximately $576,000. First Trust Advisors LP raised its stake in shares of Citigroup by 186.5% during the 2nd quarter. First Trust Advisors LP now owns 787,097 shares of the financial services provider’s stock worth $55,120,000 after buying an additional 512,367 shares during the period. Endurance Wealth Management Inc. raised its stake in shares of Citigroup by 19.4% during the 2nd quarter. Endurance Wealth Management Inc. now owns 12,292 shares of the financial services provider’s stock worth $861,000 after buying an additional 2,000 shares during the period. Finally, Berman Capital Advisors LLC raised its stake in shares of Citigroup by 28.4% during the 2nd quarter. Berman Capital Advisors LLC now owns 4,295 shares of the financial services provider’s stock worth $300,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds own 76.02% of the company’s stock.

C traded down $0.69 during mid-day trading on Friday, hitting $66.05. 13,030,490 shares of the stock were exchanged, compared to its average volume of 14,248,261. The firm’s fifty day moving average price is $69.97. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $75.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.40. The company has a market cap of $150.77 billion, a P/E ratio of 9.93, a PEG ratio of 0.73 and a beta of 1.76.

Citigroup (NYSE:C) last posted its earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.17. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The firm had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. During the same quarter in the prior year, the company earned $1.63 EPS. Citigroup’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that Citigroup Inc will post 7.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a $0.51 dividend. The ex-dividend date is Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. Citigroup’s dividend payout ratio (DPR) is currently 30.68%.

Several analysts recently commented on the company. Berenberg Bank set a $78.00 price target on Citigroup and gave the stock a “buy” rating in a research report on Monday, June 17th. Goldman Sachs Group upgraded Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 target price for the company in a report on Thursday, May 30th. BMO Capital Markets cut Citigroup to a “hold” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and upped their target price for the company from $74.00 to $86.00 in a report on Friday, July 26th. Finally, Wells Fargo & Co set a $90.00 target price on Citigroup and gave the company a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.57.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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