Citigroup Inc. (NYSE:C) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,782 shares of the company’s stock after selling 240 shares during the period. Main Street Financial Solutions LLC’s holdings in Citigroup were worth $299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in C. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after buying an additional 8,593 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Citigroup by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after acquiring an additional 23,774 shares during the last quarter. BDF Gestion acquired a new stake in shares of Citigroup in the second quarter worth $3,861,000. Chesley Taft & Associates LLC purchased a new position in shares of Citigroup during the second quarter worth $735,000. Finally, Summit Global Investments lifted its position in Citigroup by 289.5% during the third quarter. Summit Global Investments now owns 30,640 shares of the company’s stock valued at $1,918,000 after purchasing an additional 22,774 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C stock opened at $68.13 on Friday. Citigroup Inc. has a 1 year low of $44.32 and a 1 year high of $70.20. The firm has a market capitalization of $128.85 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $62.87 and a 200-day simple moving average of $62.51.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the firm earned $1.52 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.29%. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Wall Street Analysts Forecast Growth

C has been the topic of several analyst reports. Morgan Stanley cut their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Barclays raised their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group cut 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 Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Oppenheimer raised their price objective on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. One equities research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.06.

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.