Chicago Partners Investment Group LLC Sells 1,973 Shares of Citigroup Inc. (NYSE:C)

Chicago Partners Investment Group LLC decreased its stake in Citigroup Inc. (NYSE:C) by 11.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,792 shares of the company’s stock after selling 1,973 shares during the period. Chicago Partners Investment Group LLC’s holdings in Citigroup were worth $933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mission Wealth Management LP bought a new stake in Citigroup in the 1st quarter worth approximately $291,000. Choreo LLC grew its holdings in shares of Citigroup by 33.8% during the 1st quarter. Choreo LLC now owns 8,615 shares of the company’s stock valued at $545,000 after purchasing an additional 2,174 shares during the last quarter. Jennison Associates LLC raised its position in Citigroup by 732.2% in the 1st quarter. Jennison Associates LLC now owns 60,766 shares of the company’s stock worth $3,843,000 after purchasing an additional 53,464 shares during the period. Salomon & Ludwin LLC lifted its stake in Citigroup by 133.6% in the first quarter. Salomon & Ludwin LLC now owns 1,077 shares of the company’s stock worth $68,000 after purchasing an additional 616 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Citigroup during the first quarter valued at about $63,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $63.71 on Monday. The business has a fifty day simple moving average of $61.97 and a two-hundred day simple moving average of $62.16. The firm has a market capitalization of $121.55 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.71 and a beta of 1.44. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12 month low of $39.93 and a 12 month high of $67.81.

Citigroup (NYSE:C) last announced its quarterly earnings data 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. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 5.87 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Analyst Ratings Changes

C has been the subject of a number of recent research reports. Argus boosted their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. The Goldman Sachs Group lowered their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley cut 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. Barclays increased their price target 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. Finally, Piper Sandler upped their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Profile

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.