Golub Group LLC cut its holdings in shares of Citigroup Inc (NYSE:C) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 426,399 shares of the financial services provider’s stock after selling 1,375 shares during the period. Citigroup accounts for approximately 2.3% of Golub Group LLC’s investment portfolio, making the stock its 22nd biggest holding. Golub Group LLC’s holdings in Citigroup were worth $29,456,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of C. Principle Wealth Partners LLC increased its position in shares of Citigroup by 4.5% in the 3rd quarter. Principle Wealth Partners LLC now owns 3,075 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 133 shares during the period. Garrison Point Advisors LLC increased its position in shares of Citigroup by 2.6% in the 2nd quarter. Garrison Point Advisors LLC now owns 5,560 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 140 shares during the period. Ridgewood Investments LLC increased its position in shares of Citigroup by 3.7% in the 3rd quarter. Ridgewood Investments LLC now owns 4,085 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 146 shares during the period. Essex Financial Services Inc. increased its position in shares of Citigroup by 0.7% in the 2nd quarter. Essex Financial Services Inc. now owns 22,728 shares of the financial services provider’s stock valued at $1,592,000 after acquiring an additional 153 shares during the period. Finally, Asset Dedication LLC boosted its holdings in Citigroup by 2.0% in the second quarter. Asset Dedication LLC now owns 7,782 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 156 shares during the last quarter. 76.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of C stock traded up $0.31 during mid-day trading on Friday, hitting $76.12. 7,828,118 shares of the stock were exchanged, compared to its average volume of 14,431,004. The firm has a fifty day moving average of $70.76 and a 200 day moving average of $68.30. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 1.36. Citigroup Inc has a 52-week low of $48.42 and a 52-week high of $76.28. The company has a market cap of $163.37 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 0.85 and a beta of 1.80.
Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.12. Citigroup had a net margin of 18.28% and a return on equity of 10.16%. The business had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.54 billion. During the same period in the prior year, the company posted $1.73 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts predict that Citigroup Inc will post 7.58 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, November 1st. Citigroup’s payout ratio is currently 30.68%.
In other news, insider Michael Whitaker sold 7,500 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $62.03, for a total transaction of $465,225.00. Following the sale, the insider now directly owns 93,848 shares of the company’s stock, valued at approximately $5,821,391.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.
Several equities research analysts have commented on the stock. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Morgan Stanley set a $78.00 price target on shares of Citigroup and gave the company a “buy” rating in a report on Friday, August 9th. Vining Sparks raised shares of Citigroup to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, October 9th. Bank of America upped their price target on shares of Citigroup from $78.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and upped their price target for the company from $74.00 to $86.00 in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.57.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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