J.W. Cole Advisors Inc. Reduces Stake in Citigroup Inc. (NYSE:C)

J.W. Cole Advisors Inc. lowered its position in Citigroup Inc. (NYSE:C) by 5.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 9,508 shares of the company’s stock after selling 525 shares during the period. J.W. Cole Advisors Inc.’s holdings in Citigroup were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after acquiring an additional 17,525,484 shares during the period. Bank of New York Mellon Corp lifted its holdings in Citigroup by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after acquiring an additional 250,716 shares during the period. Legal & General Group Plc lifted its holdings in Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares during the period. Greenhaven Associates Inc. lifted its holdings in Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Citigroup by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock valued at $590,106,000 after acquiring an additional 168,070 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets upped their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Evercore ISI upped their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Bank of America increased their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One 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, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Stock Performance

NYSE C opened at $64.51 on Thursday. The stock has a market cap of $123.07 billion, a PE ratio of 18.70, a P/E/G ratio of 0.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a twelve month low of $38.92 and a twelve month high of $67.81. The stock has a fifty day simple moving average of $61.87 and a 200-day simple moving average of $62.05.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. Equities analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 64.93%.

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.