Citigroup Inc. $C Shares Sold by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC reduced its stake in Citigroup Inc. (NYSE:C) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,206 shares of the company’s stock after selling 14,278 shares during the period. Citigroup accounts for about 3.8% of Eastover Investment Advisors LLC’s holdings, making the stock its 9th biggest position. Eastover Investment Advisors LLC’s holdings in Citigroup were worth $8,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC raised its stake in Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after acquiring an additional 246 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in Citigroup in the second quarter valued at $34,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock worth $35,000 after purchasing an additional 253 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Citigroup in the 1st quarter valued at about $38,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C opened at $111.43 on Wednesday. The stock has a market capitalization of $199.37 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.56 and a beta of 1.21. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $113.52. The company’s fifty day moving average is $101.78 and its two-hundred day moving average is $95.04.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $1.89 by $0.35. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The company had revenue of $22.09 billion during the quarter, compared to analysts’ expectations of $20.92 billion. During the same quarter last year, the business earned $1.51 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd were given a dividend of $0.60 per share. The ex-dividend date was Monday, November 3rd. This represents a $2.40 annualized dividend and a yield of 2.2%. Citigroup’s payout ratio is presently 33.71%.

Analysts Set New Price Targets

C has been the topic of several research analyst reports. TD Cowen lifted their price target on Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $118.00 target price on shares of Citigroup in a report on Tuesday, October 14th. Wells Fargo & Company upped their price target on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. UBS Group reissued a “neutral” rating and set a $108.00 price objective on shares of Citigroup in a research report on Monday, November 24th. Finally, Dbs Bank cut shares of Citigroup from a “moderate buy” rating to a “hold” rating in a report on Monday, September 22nd. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.47.

About Citigroup

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.