Citigroup Inc. (NYSE:C) Shares Sold by Stansberry Asset Management LLC

Stansberry Asset Management LLC trimmed its holdings in Citigroup Inc. (NYSE:C) by 0.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 32,023 shares of the company’s stock after selling 240 shares during the quarter. Stansberry Asset Management LLC’s holdings in Citigroup were worth $2,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Mather Group LLC. increased its position in Citigroup by 88.5% during the second quarter. Mather Group LLC. now owns 5,622 shares of the company’s stock worth $356,000 after purchasing an additional 2,639 shares during the last quarter. CWM LLC boosted its stake in Citigroup by 14.9% during the second quarter. CWM LLC now owns 65,804 shares of the company’s stock worth $4,176,000 after buying an additional 8,549 shares during the period. BDF Gestion purchased a new position in Citigroup during the second quarter worth about $3,861,000. Manning & Napier Advisors LLC purchased a new position in Citigroup during the second quarter worth about $35,038,000. Finally, OLD National Bancorp IN boosted its stake in Citigroup by 32.4% during the second quarter. OLD National Bancorp IN now owns 330,535 shares of the company’s stock worth $20,976,000 after buying an additional 80,871 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE C opened at $71.48 on Thursday. The firm has a market capitalization of $135.19 billion, a P/E ratio of 20.72, a PEG ratio of 0.80 and a beta of 1.45. Citigroup Inc. has a one year low of $46.40 and a one year high of $72.80. The company’s fifty day moving average is $65.89 and its two-hundred day moving average is $63.25. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping 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 company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business’s revenue was up .9% on a year-over-year basis. Analysts forecast that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.13%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Barclays raised their target price on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Oppenheimer raised their target price on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Bank of America raised their target price on shares of Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley reduced their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.00.

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.