Covestor Ltd Sells 614 Shares of Citigroup Inc. (NYSE:C)

Covestor Ltd reduced its position in shares of Citigroup Inc. (NYSE:C) by 24.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,884 shares of the company’s stock after selling 614 shares during the quarter. Covestor Ltd’s holdings in Citigroup were worth $118,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Privium Fund Management B.V. boosted its position in shares of Citigroup by 2.6% during the third quarter. Privium Fund Management B.V. now owns 12,804 shares of the company’s stock valued at $802,000 after buying an additional 326 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Citigroup by 6.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 19,379 shares of the company’s stock valued at $1,213,000 after acquiring an additional 1,232 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Citigroup by 3.6% in the third quarter. Lindbrook Capital LLC now owns 9,218 shares of the company’s stock worth $577,000 after acquiring an additional 317 shares during the period. Beta Wealth Group Inc. raised its holdings in shares of Citigroup by 4.9% during the third quarter. Beta Wealth Group Inc. now owns 8,621 shares of the company’s stock valued at $540,000 after purchasing an additional 406 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Citigroup in the third quarter worth approximately $1,018,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group dropped their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Evercore ISI boosted their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Bank of America increased their price target on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer boosted their price target on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $72.06.

Citigroup Stock Down 1.1 %

NYSE:C opened at $69.05 on Wednesday. The stock has a fifty day simple moving average of $62.56 and a 200-day simple moving average of $62.42. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The company has a market cap of $131.73 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a twelve month low of $41.93 and a twelve month high of $70.20.

Citigroup (NYSE:C) last posted its quarterly 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 net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The company’s revenue was up .9% on a year-over-year basis. Analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.24%. Citigroup’s dividend payout ratio is currently 64.93%.

Citigroup 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.