Private Advisor Group LLC Decreases Position in Citigroup Inc. (NYSE:C)

Private Advisor Group LLC reduced its position in shares of Citigroup Inc. (NYSE:C) by 10.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 157,922 shares of the company’s stock after selling 18,850 shares during the period. Private Advisor Group LLC’s holdings in Citigroup were worth $9,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in C. Eastern Bank purchased a new stake in shares of Citigroup during the third quarter worth approximately $87,000. Sequoia Financial Advisors LLC boosted its stake in Citigroup by 25.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 206,446 shares of the company’s stock worth $12,924,000 after purchasing an additional 41,569 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Citigroup by 14.0% during the third quarter. Foundations Investment Advisors LLC now owns 261,465 shares of the company’s stock worth $16,368,000 after buying an additional 32,210 shares in the last quarter. Integrity Financial Corp WA raised its position in shares of Citigroup by 58.8% in the third quarter. Integrity Financial Corp WA now owns 8,105 shares of the company’s stock valued at $507,000 after buying an additional 3,000 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Citigroup in the third quarter worth about $28,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

C has been the subject of a number of recent research reports. Bank of America increased their price objective 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 stock an “equal weight” rating in a research report on Wednesday, October 16th. BMO Capital Markets upped their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. The Goldman Sachs Group reduced their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Morgan Stanley dropped their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Trading Down 0.2 %

Shares of NYSE C opened at $62.99 on Friday. The stock has a fifty day simple moving average of $61.62 and a 200-day simple moving average of $61.95. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $120.15 billion, a PE ratio of 17.52, a PEG ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 5.76 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be given a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.56%. Citigroup’s dividend payout ratio is presently 62.75%.

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.