Coastal Investment Advisors Inc. Decreases Stock Position in Citigroup Inc (NYSE:C)

Coastal Investment Advisors Inc. lessened its stake in shares of Citigroup Inc (NYSE:C) by 18.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,436 shares of the financial services provider’s stock after selling 1,871 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Citigroup were worth $585,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Personal Wealth Partners purchased a new stake in Citigroup in the second quarter worth $27,000. Centaurus Financial Inc. increased its stake in Citigroup by 95.1% in the first quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 835 shares during the period. Mcmillion Capital Management Inc. purchased a new stake in Citigroup in the second quarter worth $31,000. Bray Capital Advisors increased its stake in Citigroup by 257.4% in the second quarter. Bray Capital Advisors now owns 486 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 350 shares during the period. Finally, MRA Associates USA LLC purchased a new stake in Citigroup in the second quarter worth $34,000. Institutional investors own 76.69% of the company’s stock.

In related news, insider Michael Whitaker sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total transaction of $465,225.00. Following the sale, the insider now owns 93,848 shares of the company’s stock, valued at $5,821,391.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

A number of analysts have weighed in on C shares. Vining Sparks upgraded Citigroup to a “buy” rating and set a $80.00 target price on the stock in a research note on Wednesday, October 9th. UBS Group increased their target price on Citigroup from $87.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Co set a $85.00 target price on Citigroup and gave the stock a “buy” rating in a research note on Friday, August 16th. Barclays increased their target price on Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. reduced their target price on Citigroup from $81.00 to $77.50 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $79.75.

C opened at $69.74 on Friday. Citigroup Inc has a 12-month low of $48.42 and a 12-month high of $73.08. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The business’s fifty day simple moving average is $68.24 and its 200-day simple moving average is $67.62. The company has a market capitalization of $157.55 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 0.79 and a beta of 1.80.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.12. Citigroup had a return on equity of 10.16% and a net margin of 18.28%. The business had revenue of $18.57 billion for the quarter, compared to the consensus estimate of $18.54 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that Citigroup Inc will post 7.54 EPS for the current year.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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