Noesis Capital Mangement Corp Invests $210,000 in Citigroup Inc (NYSE:C)

Noesis Capital Mangement Corp purchased a new position in shares of Citigroup Inc (NYSE:C) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,004 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its position in Citigroup by 6.1% during the second quarter. Parkside Financial Bank & Trust now owns 3,503 shares of the financial services provider’s stock worth $245,000 after buying an additional 200 shares during the period. Homrich & Berg grew its position in Citigroup by 31.6% during the second quarter. Homrich & Berg now owns 7,439 shares of the financial services provider’s stock worth $521,000 after buying an additional 1,788 shares during the period. Bbva USA Bancshares Inc. grew its position in Citigroup by 5.0% during the second quarter. Bbva USA Bancshares Inc. now owns 207,636 shares of the financial services provider’s stock worth $14,541,000 after buying an additional 9,973 shares during the period. Heritage Wealth Advisors grew its position in Citigroup by 18.9% during the second quarter. Heritage Wealth Advisors now owns 6,287 shares of the financial services provider’s stock worth $364,000 after buying an additional 1,000 shares during the period. Finally, National Asset Management Inc. grew its position in Citigroup by 13.0% during the second quarter. National Asset Management Inc. now owns 21,312 shares of the financial services provider’s stock worth $1,493,000 after buying an additional 2,452 shares during the period. Institutional investors and hedge funds own 76.78% of the company’s stock.

Shares of C traded up $0.81 on Thursday, hitting $64.06. 3,563,035 shares of the stock traded hands, compared to its average volume of 15,302,586. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $145.28 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.70 and a beta of 1.76. The stock’s 50 day moving average is $68.80 and its two-hundred day moving average is $66.41. Citigroup Inc has a 1 year low of $48.42 and a 1 year high of $75.24.

Citigroup (NYSE:C) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.17. The business had revenue of $18.76 billion for the quarter, compared to the consensus estimate of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Research analysts forecast that Citigroup Inc will post 7.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a dividend of $0.51 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 3.18%. Citigroup’s dividend payout ratio is presently 30.68%.

Several research analysts have weighed in on C shares. Goldman Sachs Group upgraded shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 target price on the stock in a research report on Thursday, May 30th. Wells Fargo & Co set a $85.00 price target on shares of Citigroup and gave the company a “buy” rating in a research report on Friday, August 16th. Bank of America lowered shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and increased their price target for the company from $74.00 to $86.00 in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $79.12.

About Citigroup

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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