Parnassus Investments LLC Sells 196,400 Shares of Citigroup Inc. (NYSE:C)

Parnassus Investments LLC reduced its stake in Citigroup Inc. (NYSE:C - Free Report) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,725,687 shares of the company's stock after selling 196,400 shares during the period. Parnassus Investments LLC owned approximately 0.09% of Citigroup worth $108,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company's stock valued at $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Swedbank AB bought a new position in Citigroup in the 1st quarter valued at approximately $253,286,000. Acadian Asset Management LLC lifted its stake in Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company's stock valued at $158,521,000 after purchasing an additional 2,100,135 shares during the last quarter. Caxton Associates LP lifted its stake in Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company's stock valued at $127,453,000 after purchasing an additional 1,988,494 shares during the last quarter. Finally, Capital World Investors lifted its stake in Citigroup by 26.1% in the 1st quarter. Capital World Investors now owns 5,280,342 shares of the company's stock valued at $333,929,000 after purchasing an additional 1,092,980 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Down 0.6 %

Citigroup stock traded down $0.38 during mid-day trading on Tuesday, reaching $68.62. The stock had a trading volume of 14,422,954 shares, compared to its average volume of 14,446,642. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $44.56 and a fifty-two week high of $70.20. The stock's 50-day simple moving average is $63.40 and its 200-day simple moving average is $62.66. The firm has a market capitalization of $129.78 billion, a PE ratio of 19.88, 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 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion during the quarter, compared to analysts' expectations of $19.86 billion. During the same quarter last year, the firm posted $1.52 earnings per share. The company's revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts forecast 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. Stockholders of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.26%. Citigroup's dividend payout ratio is presently 64.93%.

Analyst Ratings Changes

C has been the subject of several research reports. Barclays increased their target price on Citigroup from $63.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Bank of America increased their target price on Citigroup from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their price target on Citigroup from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, October 16th. Finally, Oppenheimer increased their price target on Citigroup from $91.00 to $107.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

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.