Oppenheimer Asset Management Inc. Reduces Holdings in Citigroup Inc. (NYSE:C)

Oppenheimer Asset Management Inc. lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 12.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,301,398 shares of the company's stock after selling 183,060 shares during the quarter. Citigroup makes up 1.0% of Oppenheimer Asset Management Inc.'s holdings, making the stock its 14th largest position. Oppenheimer Asset Management Inc. owned about 0.07% of Citigroup worth $81,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bleakley Financial Group LLC grew its stake in shares of Citigroup by 3.3% in the first quarter. Bleakley Financial Group LLC now owns 28,695 shares of the company's stock valued at $1,815,000 after buying an additional 904 shares in the last quarter. TD Asset Management Inc increased its position in Citigroup by 12.5% in the 1st quarter. TD Asset Management Inc now owns 1,089,087 shares of the company's stock valued at $68,874,000 after acquiring an additional 121,432 shares during the period. D Orazio & Associates Inc. acquired a new position in Citigroup during the 1st quarter worth approximately $246,000. TBH Global Asset Management LLC acquired a new position in Citigroup during the 1st quarter worth approximately $289,000. Finally, Beacon Investment Advisory Services Inc. purchased a new stake in shares of Citigroup during the 1st quarter worth approximately $271,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

C traded down $0.13 during midday trading on Wednesday, hitting $68.89. 10,457,588 shares of the company traded hands, compared to its average volume of 14,453,146. The company's 50-day moving average is $62.71 and its 200 day moving average is $62.46. Citigroup Inc. has a 52 week low of $43.10 and a 52 week high of $70.20. 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 firm has a market capitalization of $130.29 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (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 business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same period last year, the firm posted $1.52 EPS. The company's revenue was up .9% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.25%. Citigroup's dividend payout ratio is currently 64.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on C. Morgan Stanley reduced their price target on Citigroup from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Evercore ISI lifted their target price 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 dropped their target price on Citigroup from $75.00 to $71.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Barclays lifted their price objective on shares of Citigroup from $63.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Finally, Bank of America boosted their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average target price of $72.06.

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.