Community Trust & Investment Co. cut its stake in Citigroup Inc (NYSE:C) by 1.0% in the third quarter, Holdings Channel reports. The fund owned 376,788 shares of the financial services provider’s stock after selling 3,791 shares during the period. Citigroup accounts for 3.1% of Community Trust & Investment Co.’s holdings, making the stock its 10th largest position. Community Trust & Investment Co.’s holdings in Citigroup were worth $27,030,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Advisors LLC raised its stake in shares of Citigroup by 349.7% in the second quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 1,336 shares during the last quarter. IMA Wealth Inc. bought a new position in shares of Citigroup in the second quarter worth about $129,000. Arlington Partners LLC bought a new position in shares of Citigroup in the third quarter worth about $143,000. Peoples Financial Services CORP. raised its stake in shares of Citigroup by 82.8% in the third quarter. Peoples Financial Services CORP. now owns 2,208 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Citigroup in the third quarter worth about $166,000. 74.84% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. TheStreet raised shares of Citigroup from a “c” rating to a “b-” rating in a research note on Monday, July 30th. Wells Fargo & Co set a $100.00 price target on shares of Citigroup and gave the stock a “buy” rating in a research note on Monday, August 27th. Royal Bank of Canada reissued a “buy” rating and set a $85.00 price target on shares of Citigroup in a research note on Monday, July 16th. Deutsche Bank boosted their price target on shares of Citigroup from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Finally, Vining Sparks reissued a “buy” rating and set a $77.00 price target on shares of Citigroup in a research note on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Citigroup has a consensus rating of “Buy” and an average target price of $82.91.
Shares of NYSE C opened at $65.92 on Friday. The company has a market cap of $169.42 billion, a P/E ratio of 10.43, a PEG ratio of 0.86 and a beta of 1.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.32. Citigroup Inc has a 52-week low of $63.18 and a 52-week high of $80.70.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, October 12th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.07. The firm had revenue of $18.39 billion during the quarter, compared to analysts’ expectations of $18.43 billion. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. During the same quarter in the previous year, the company earned $1.42 earnings per share. As a group, equities research analysts predict that Citigroup Inc will post 6.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, November 5th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, November 2nd. Citigroup’s dividend payout ratio is currently 33.77%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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