Golden State Equity Partners Reduces Position in Citigroup Inc. (NYSE:C)

Golden State Equity Partners lessened its position in Citigroup Inc. (NYSE:C) by 15.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,300 shares of the company’s stock after selling 3,072 shares during the period. Golden State Equity Partners’ holdings in Citigroup were worth $1,020,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in C. Pathway Financial Advisers LLC raised its stake in shares of Citigroup by 6,170.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 10,033 shares of the company’s stock valued at $628,000 after acquiring an additional 9,873 shares during the period. Adell Harriman & Carpenter Inc. grew its position in Citigroup by 221.8% in the third quarter. Adell Harriman & Carpenter Inc. now owns 49,192 shares of the company’s stock valued at $3,079,000 after acquiring an additional 33,905 shares in the last quarter. Avitas Wealth Management LLC lifted its holdings in Citigroup by 1.5% in the 3rd quarter. Avitas Wealth Management LLC now owns 22,764 shares of the company’s stock worth $1,425,000 after buying an additional 332 shares in the last quarter. Childress Capital Advisors LLC increased its holdings in Citigroup by 4.7% during the 3rd quarter. Childress Capital Advisors LLC now owns 4,786 shares of the company’s stock worth $300,000 after purchasing an additional 213 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in shares of Citigroup by 3.7% in the third quarter. Fidelis Capital Partners LLC now owns 23,624 shares of the company’s stock worth $1,491,000 after buying an additional 844 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on C shares. The Goldman Sachs Group decreased their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Bank of America raised 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 boosted their price objective on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Oppenheimer lowered their target price on Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Finally, Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Stock Up 0.1 %

Shares of C stock traded up $0.06 on Wednesday, hitting $64.75. The company’s stock had a trading volume of 404,669 shares, compared to its average volume of 14,303,489. The stock has a market capitalization of $123.53 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $38.92 and a fifty-two week high of $67.81. The firm’s fifty day moving average price is $61.79 and its 200-day moving average price is $62.03. 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 posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 EPS. Research analysts anticipate that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Monday, November 4th. Citigroup’s payout ratio is presently 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.