abrdn plc Sells 254,190 Shares of Citigroup Inc. (NYSE:C)

abrdn plc lessened its holdings in Citigroup Inc. (NYSE:C - Free Report) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,153,091 shares of the company's stock after selling 254,190 shares during the quarter. abrdn plc owned 0.11% of Citigroup worth $134,127,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of C. MONECO Advisors LLC raised its stake in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company's stock valued at $352,000 after purchasing an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in Citigroup by 4.0% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company's stock worth $272,000 after acquiring an additional 164 shares in the last quarter. NorthRock Partners LLC raised its stake in Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company's stock worth $398,000 after acquiring an additional 165 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company's stock worth $1,053,000 after acquiring an additional 169 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company's stock worth $161,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 0.8 %

Shares of Citigroup stock traded up $0.53 on Tuesday, reaching $64.69. 12,438,109 shares of the company's stock were exchanged, compared to its average volume of 14,366,661. The company has a market capitalization of $123.39 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a 52 week low of $38.41 and a 52 week high of $67.81. The firm's 50-day moving average is $61.72 and its two-hundred day moving average is $61.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to analysts' expectations of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company's revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. Sell-side analysts predict that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup's dividend payout ratio is currently 62.75%.

Analysts Set New Price Targets

C has been the subject of several recent research reports. Evercore ISI upped their price objective on Citigroup from $63.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, October 16th. 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. Bank of America upped their price objective on Citigroup from $77.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Finally, Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Monday, July 15th. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $71.06.

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.