Naples Money Management LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Naples Money Management LLC acquired a new stake in Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 40,834 shares of the company’s stock, valued at approximately $2,101,000. Citigroup accounts for about 2.0% of Naples Money Management LLC’s holdings, making the stock its 23rd biggest position.

Other hedge funds have also recently modified their holdings of the company. Carmel Capital Partners LLC acquired a new stake in Citigroup during the third quarter valued at $25,000. GHP Investment Advisors Inc. boosted its stake in shares of Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after acquiring an additional 290 shares in the last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of Citigroup during the 1st quarter valued at about $28,000. AlphaMark Advisors LLC increased its stake in shares of Citigroup by 75.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings in Citigroup by 115.0% in the 3rd quarter. Janiczek Wealth Management LLC now owns 802 shares of the company’s stock worth $33,000 after purchasing an additional 429 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on C. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research report on Wednesday, January 3rd. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Jefferies Financial Group increased their price objective on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. Wells Fargo & Company reissued an “overweight” rating and set a $80.00 target price on shares of Citigroup in a research note on Monday, April 1st. Finally, Societe Generale lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $62.91.

Citigroup Trading Up 1.4 %

Citigroup stock traded up $0.83 during midday trading on Friday, hitting $59.15. 13,367,494 shares of the stock were exchanged, compared to its average volume of 17,210,979. The stock’s 50-day simple moving average is $58.19 and its 200 day simple moving average is $51.03. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $113.29 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.88 and a beta of 1.52.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post 5.91 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is 62.72%.

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.