Oppenheimer & Co. Inc. Sells 41,979 Shares of Citigroup Inc. (NYSE:C)

Oppenheimer & Co. Inc. cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 326,814 shares of the company's stock after selling 41,979 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Citigroup were worth $20,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in C. POM Investment Strategies LLC acquired a new stake in shares of Citigroup during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Citigroup during the third quarter worth $28,000. Beacon Capital Management LLC increased its holdings in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company's stock valued at $29,000 after buying an additional 212 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Citigroup during the 2nd quarter worth about $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Down 0.2 %

Shares of Citigroup stock traded down $0.13 during midday trading on Wednesday, reaching $68.89. The company had a trading volume of 10,457,588 shares, compared to its average volume of 14,453,146. The firm has a market cap of $130.29 billion, a PE ratio of 20.10, a P/E/G ratio of 0.77 and a beta of 1.44. The stock has a fifty day moving average price of $62.71 and a 200 day moving average price of $62.46. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a fifty-two week low of $43.10 and a fifty-two week high of $70.20.

Citigroup (NYSE:C - Get Free Report) last posted 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. The company had revenue of $20.32 billion during the quarter, compared to analysts' expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup's revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.52 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.25%. Citigroup's dividend payout ratio (DPR) is presently 64.93%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on C shares. Barclays raised their target price on Citigroup from $63.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Bank of America raised their target price on Citigroup from $77.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. Oppenheimer upped their target price on shares of Citigroup from $91.00 to $107.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Finally, Evercore ISI upped their target price 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.06.

Citigroup 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.