Versor Investments LP trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 72.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,000 shares of the company's stock after selling 24,000 shares during the period. Versor Investments LP's holdings in Citigroup were worth $563,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Citigroup in the second quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in Citigroup in the 3rd quarter valued at approximately $28,000. Beacon Capital Management LLC raised its holdings in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company's stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the second quarter worth $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in Citigroup in the second quarter valued at $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently commented on C. The Goldman Sachs Group decreased their price objective 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. Evercore ISI increased their price target 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. Morgan Stanley dropped their price objective on shares of Citigroup from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Oppenheimer upped their target price on Citigroup from $91.00 to $107.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Finally, Bank of America boosted their price target on Citigroup from $77.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $72.06.
Read Our Latest Stock Report on Citigroup
Citigroup Stock Performance
C stock traded down $0.76 during trading on Thursday, hitting $68.13. 15,029,336 shares of the company's stock traded hands, compared to its average volume of 14,455,741. The stock has a market capitalization of $128.85 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a 52 week low of $44.32 and a 52 week high of $70.20. The stock has a fifty day moving average price of $62.87 and a two-hundred day moving average price of $62.51. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.
Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, equities analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal year.
Citigroup Dividend Announcement
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 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 yield of 3.29%. Citigroup's dividend payout ratio is currently 64.93%.
Citigroup Company Profile
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Free Report)
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.
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