Harmony Asset Management LLC Acquires 3,770 Shares of Citigroup Inc. (NYSE:C)

Harmony Asset Management LLC boosted its stake in shares of Citigroup Inc. (NYSE:C) by 89.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,000 shares of the company’s stock after acquiring an additional 3,770 shares during the quarter. Harmony Asset Management LLC’s holdings in Citigroup were worth $501,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mather Group LLC. lifted its holdings in shares of Citigroup by 88.5% in the 2nd quarter. Mather Group LLC. now owns 5,622 shares of the company’s stock valued at $356,000 after purchasing an additional 2,639 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Citigroup by 8.6% in the 2nd quarter. Park Avenue Securities LLC now owns 60,143 shares of the company’s stock worth $3,817,000 after purchasing an additional 4,772 shares during the last quarter. CWM LLC boosted its holdings in shares of Citigroup by 14.9% in the second quarter. CWM LLC now owns 65,804 shares of the company’s stock valued at $4,176,000 after acquiring an additional 8,549 shares in the last quarter. RDA Financial Network increased its stake in Citigroup by 7.2% in the 2nd quarter. RDA Financial Network now owns 3,507 shares of the company’s stock worth $223,000 after purchasing an additional 237 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of Citigroup by 7.7% in the second quarter. Valeo Financial Advisors LLC now owns 58,447 shares of the company’s stock worth $3,709,000 after acquiring an additional 4,187 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on C. Oppenheimer boosted their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley cut their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Barclays boosted their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

Citigroup Stock Up 0.7 %

NYSE:C opened at $71.39 on Tuesday. The company has a 50-day moving average of $65.30 and a 200 day moving average of $63.08. 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 1-year low of $46.40 and a 1-year high of $71.64. The firm has a market cap of $135.02 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 0.79 and a beta of 1.45.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.14%. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Citigroup 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.