IFM Investors Pty Ltd Lowers Position in Citigroup Inc. (NYSE:C)

IFM Investors Pty Ltd lessened its stake in Citigroup Inc. (NYSE:C) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 388,346 shares of the company’s stock after selling 1,626 shares during the quarter. IFM Investors Pty Ltd’s holdings in Citigroup were worth $24,310,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC purchased a new stake in Citigroup during the first quarter valued at $2,074,000. Future Financial Wealth Managment LLC bought a new position in Citigroup during the first quarter valued at $95,000. Aspiriant LLC bought a new position in Citigroup during the first quarter valued at $219,000. Wealthcare Advisory Partners LLC increased its position in Citigroup by 7.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 20,147 shares of the company’s stock valued at $1,274,000 after acquiring an additional 1,449 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Citigroup by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 116,728 shares of the company’s stock valued at $7,382,000 after acquiring an additional 4,132 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on C shares. Oppenheimer cut their price objective on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Bank of America boosted their price objective on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Evercore ISI upped their price target on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Stock Down 0.9 %

Shares of C stock traded down $0.57 during mid-day trading on Thursday, hitting $62.53. 3,685,407 shares of the stock traded hands, compared to its average volume of 14,359,824. The stock has a market cap of $119.27 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.74 and a beta of 1.44. The stock’s fifty day moving average is $61.62 and its two-hundred day moving average is $61.95. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.58%. Citigroup’s payout ratio is currently 62.75%.

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.