Ridgewood Investments LLC Cuts Stake in Citigroup Inc. (NYSE:C)

Ridgewood Investments LLC reduced its stake in shares of Citigroup Inc. (NYSE:C) by 29.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,247 shares of the company’s stock after selling 2,157 shares during the period. Ridgewood Investments LLC’s holdings in Citigroup were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in C. Strategic Financial Concepts LLC boosted its stake in Citigroup by 1,139.7% during the second quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after buying an additional 48,484 shares during the period. MGO One Seven LLC boosted its stake in Citigroup by 8.1% during the second quarter. MGO One Seven LLC now owns 40,100 shares of the company’s stock worth $2,545,000 after buying an additional 3,000 shares during the period. American Century Companies Inc. boosted its stake in Citigroup by 2.3% during the second quarter. American Century Companies Inc. now owns 339,400 shares of the company’s stock worth $21,538,000 after buying an additional 7,778 shares during the period. Perritt Capital Management Inc boosted its stake in Citigroup by 17.6% during the second quarter. Perritt Capital Management Inc now owns 9,064 shares of the company’s stock worth $575,000 after buying an additional 1,357 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Citigroup by 37.1% during the second quarter. Jupiter Asset Management Ltd. now owns 310,031 shares of the company’s stock worth $19,675,000 after purchasing an additional 83,889 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C traded down $1.95 during mid-day trading on Friday, reaching $71.31. 4,995,781 shares of the stock were exchanged, compared to its average volume of 12,833,441. The company has a 50 day simple moving average of $70.03 and a 200-day simple moving average of $64.95. The stock has a market capitalization of $134.87 billion, a P/E ratio of 20.67, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $74.29.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating 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 company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the business posted $1.52 EPS. The company’s revenue was up .9% on a year-over-year basis. Analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley decreased their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a report on Monday. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group boosted their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $80.13.

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.