New Century Financial Group LLC Sells 10,265 Shares of Citigroup Inc. (NYSE:C)

New Century Financial Group LLC lowered its stake in shares of Citigroup Inc. (NYSE:C) by 43.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,322 shares of the company’s stock after selling 10,265 shares during the quarter. New Century Financial Group LLC’s holdings in Citigroup were worth $845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. 3Chopt Investment Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at about $406,000. Old North State Trust LLC lifted its position in Citigroup by 7.3% during the second quarter. Old North State Trust LLC now owns 4,361 shares of the company’s stock valued at $277,000 after acquiring an additional 297 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Citigroup by 23.6% in the second quarter. EP Wealth Advisors LLC now owns 17,342 shares of the company’s stock valued at $1,101,000 after acquiring an additional 3,313 shares in the last quarter. Brandes Investment Partners LP grew its holdings in Citigroup by 8.2% in the second quarter. Brandes Investment Partners LP now owns 3,068,543 shares of the company’s stock worth $194,345,000 after purchasing an additional 233,453 shares during the last quarter. Finally, Wallace Advisory Group LLC increased its position in shares of Citigroup by 34.8% during the second quarter. Wallace Advisory Group LLC now owns 6,799 shares of the company’s stock worth $431,000 after purchasing an additional 1,756 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C opened at $62.61 on Tuesday. The business’s 50-day moving average is $60.82 and its two-hundred day moving average is $61.71. The company has a market capitalization of $119.42 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.69 and a beta of 1.45. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same period last year, the company earned $1.37 earnings per share. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts predict that Citigroup Inc. will post 5.79 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

C has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Argus boosted their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada upped their price objective on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Oppenheimer lifted their target price on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.69.

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.