Kovack Advisors Inc. Sells 22,862 Shares of Citigroup Inc. (NYSE:C)

Kovack Advisors Inc. trimmed its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 81.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,264 shares of the company's stock after selling 22,862 shares during the quarter. Kovack Advisors Inc.'s holdings in Citigroup were worth $330,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company's stock worth $4,653,000 after purchasing an additional 8,593 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Citigroup by 13.4% in the first 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. BDF Gestion purchased a new stake in shares of Citigroup in the second quarter valued at $3,861,000. Chesley Taft & Associates LLC acquired a new stake in shares of Citigroup during the second quarter valued at $735,000. Finally, Summit Global Investments increased its position in Citigroup by 289.5% during the 3rd quarter. Summit Global Investments now owns 30,640 shares of the company's stock worth $1,918,000 after purchasing an additional 22,774 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Citigroup from $63.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their target price 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. Bank of America boosted their price target on Citigroup from $77.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Barclays raised their price objective on Citigroup from $63.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on Citigroup from $85.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Citigroup Stock Performance

Shares of C stock traded up $0.61 during trading hours on Friday, reaching $68.76. 15,373,056 shares of the company's stock were exchanged, compared to its average volume of 14,459,951. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $130.04 billion, a P/E ratio of 19.93, a P/E/G ratio of 0.77 and a beta of 1.44. The business has a fifty day moving average price of $63.21 and a 200-day moving average price of $62.60. Citigroup Inc. has a fifty-two week low of $44.32 and a fifty-two week high of $70.20.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm 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 firm earned $1.52 earnings per share. The company's quarterly revenue was up .9% compared to the same quarter last year. Analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup's dividend payout ratio (DPR) is currently 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.