Citigroup Inc. Sells 67,197 Shares of Citigroup Inc. (NYSE:C)

Citigroup Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,071,141 shares of the company’s stock after selling 67,197 shares during the quarter. Citigroup Inc.’s holdings in Citigroup were worth $67,053,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Shell Asset Management Co. acquired a new position in shares of Citigroup during the first quarter worth approximately $415,000. Gamco Investors INC. ET AL lifted its stake in shares of Citigroup by 4.1% in the first quarter. Gamco Investors INC. ET AL now owns 55,430 shares of the company’s stock valued at $3,505,000 after buying an additional 2,175 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of Citigroup during the first quarter valued at about $215,000. Lazard Asset Management LLC raised its holdings in shares of Citigroup by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after acquiring an additional 23,774 shares during the last quarter. Finally, SVB Wealth LLC lifted its position in Citigroup by 8.5% in the 1st quarter. SVB Wealth LLC now owns 35,819 shares of the company’s stock valued at $2,265,000 after acquiring an additional 2,816 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on C. The Goldman Sachs Group lowered their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Morgan Stanley lowered 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. Barclays upped their target price on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Evercore ISI raised their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Finally, Bank of America upped their price objective on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Trading Up 1.3 %

Shares of C opened at $69.84 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $132.09 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $44.56 and a fifty-two week high of $70.20. The business has a 50-day moving average of $64.32 and a 200 day moving average of $62.85.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating 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 analysts’ expectations of $19.86 billion. During the same period in the prior year, the company posted $1.52 EPS. Citigroup’s revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

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

About Citigroup

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.