Wellington Management Group LLP Reduces Holdings in Citigroup Inc. (NYSE:C)

Wellington Management Group LLP decreased its position in shares of Citigroup Inc. (NYSE:C) by 25.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,524 shares of the company’s stock after selling 16,943 shares during the period. Wellington Management Group LLP’s holdings in Citigroup were worth $3,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in C. POM Investment Strategies LLC bought a new position in Citigroup in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in shares of Citigroup in the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup in the 2nd quarter worth about $31,000. GHP Investment Advisors Inc. lifted its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Citigroup by 93.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock valued at $36,000 after buying an additional 276 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.5 %

Shares of C stock opened at $71.15 on Wednesday. The stock’s fifty day moving average price is $67.61 and its 200 day moving average price is $63.80. Citigroup Inc. has a 1-year low of $49.17 and a 1-year high of $73.38. The company has a market cap of $134.56 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.52 earnings per share. On average, research analysts expect that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.15%. Citigroup’s payout ratio is currently 64.93%.

Analyst Ratings Changes

A number of brokerages have recently commented on C. Evercore ISI raised their target price 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. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Piper Sandler upped their target price on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group increased their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Barclays lifted their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.63.

Citigroup Company Profile

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.