Citigroup Inc. (NYSE:C) Shares Sold by Covestor Ltd

Covestor Ltd decreased its holdings in Citigroup Inc. (NYSE:C) by 24.6% in the third quarter, Holdings Channel reports. The firm owned 1,884 shares of the company’s stock after selling 614 shares during the period. Covestor Ltd’s holdings in Citigroup were worth $118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new position in shares of Citigroup in the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in Citigroup during the 3rd quarter worth about $28,000. Beacon Capital Management LLC grew its stake in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup in the second quarter worth about $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Citigroup during the second quarter worth about $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on C shares. Evercore ISI raised their price target on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Bank of America upped their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays lifted their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer upped their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.06.

Citigroup Stock Down 1.1 %

Shares of NYSE C opened at $69.05 on Wednesday. Citigroup Inc. has a 52-week low of $41.93 and a 52-week high of $70.20. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The company’s 50-day simple moving average is $62.56 and its 200-day simple moving average is $62.42. The firm has a market cap of $131.73 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS 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 analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 EPS. Equities analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.24%. Citigroup’s payout ratio is currently 64.93%.

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.