Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp cut its stake in shares of Citigroup Inc. (NYSE:C) by 77.2% during the third quarter, Holdings Channel reports. The fund owned 71,729 shares of the financial services provider’s stock after selling 242,271 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Citigroup were worth $3,388,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in C. Gemmer Asset Management LLC raised its stake in Citigroup by 3.2% in the third quarter. Gemmer Asset Management LLC now owns 2,234 shares of the financial services provider’s stock worth $106,000 after buying an additional 69 shares in the last quarter. City Holding Co. raised its stake in Citigroup by 26.6% in the third quarter. City Holding Co. now owns 2,305 shares of the financial services provider’s stock worth $109,000 after buying an additional 485 shares in the last quarter. Enterprise Financial Services Corp raised its stake in Citigroup by 44.5% in the third quarter. Enterprise Financial Services Corp now owns 2,447 shares of the financial services provider’s stock worth $116,000 after buying an additional 753 shares in the last quarter. Cedar Wealth Management LLC raised its stake in Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock worth $111,000 after buying an additional 950 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Citigroup during the second quarter worth approximately $116,000. 72.52% of the stock is currently owned by hedge funds and other institutional investors.
Citigroup Inc. (NYSE:C) traded up 0.16% during trading on Friday, hitting $56.78. The stock had a trading volume of 11,488,291 shares. Citigroup Inc. has a 52 week low of $34.52 and a 52 week high of $56.83. The company has a 50-day moving average of $51.14 and a 200-day moving average of $46.59. The stock has a market capitalization of $161.81 billion, a P/E ratio of 12.35 and a beta of 1.74.
Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. The company earned $17.80 billion during the quarter, compared to the consensus estimate of $17.32 billion. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. Citigroup’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the business posted $1.31 earnings per share. On average, equities analysts expect that Citigroup Inc. will post $4.70 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Monday, November 7th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 13.91%.
A number of equities research analysts have recently commented on the company. Vetr lowered Citigroup from a “sell” rating to a “strong sell” rating and set a $48.79 price target on the stock. in a research report on Monday. Jefferies Group set a $36.00 target price on Citigroup and gave the company a “buy” rating in a research report on Saturday, November 19th. Macquarie lowered Citigroup from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $55.45 to $57.00 in a research report on Friday, November 18th. Morgan Stanley raised Citigroup from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 14th. Finally, Compass Point started coverage on Citigroup in a research report on Tuesday, October 11th. They issued a “sell” rating and a $39.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $53.47.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.