US Bancorp DE cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 507,375 shares of the company's stock after selling 11,645 shares during the period. US Bancorp DE's holdings in Citigroup were worth $31,762,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new position in shares of Citigroup in the second quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the 3rd quarter worth about $28,000. Beacon Capital Management LLC boosted its position in shares of 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 acquiring an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup in the second quarter valued at about $31,000. Finally, Triad Wealth Partners LLC acquired a new position in Citigroup in the second quarter worth about $32,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.
NYSE:C opened at $63.71 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 1-year low of $39.93 and a 1-year high of $67.81. The firm has a market capitalization of $121.55 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 0.72 and a beta of 1.44. The business's 50-day moving average price is $61.97 and its two-hundred day moving average price is $62.10.
Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter last year, the firm earned $1.52 EPS. Citigroup's quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Citigroup Inc. will post 5.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued 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 3.52%. Citigroup's dividend payout ratio is presently 64.93%.
Several equities research analysts have recently weighed in on C shares. Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. BMO Capital Markets upped their price target on Citigroup from $63.00 to $65.00 and gave the company a "market perform" rating in a research report on Thursday, July 11th. Argus lifted their price objective on Citigroup from $70.00 to $72.00 and gave the company a "buy" rating in a report on Monday, July 15th. Evercore ISI upped their target price on shares of Citigroup from $63.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, October 16th. Finally, Oppenheimer cut their price target on shares of Citigroup from $92.00 to $91.00 and set an "outperform" rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and an average price target of $71.06.
Check Out Our Latest Stock Analysis on 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.
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