Navellier & Associates Inc. Sells 3,278 Shares of Citigroup Inc. (NYSE:C)

Navellier & Associates Inc. decreased its holdings in Citigroup Inc. (NYSE:C) by 21.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,998 shares of the company’s stock after selling 3,278 shares during the period. Navellier & Associates Inc.’s holdings in Citigroup were worth $751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its stake in Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after acquiring an additional 8,593 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Citigroup by 13.4% in the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after buying an additional 23,774 shares during the last quarter. BDF Gestion acquired a new stake in Citigroup during the second quarter worth about $3,861,000. KBC Group NV increased its holdings in shares of Citigroup by 1.8% during the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after purchasing an additional 20,291 shares in the last quarter. Finally, Summit Global Investments grew its position in shares of Citigroup by 289.5% during the 3rd quarter. Summit Global Investments now owns 30,640 shares of the company’s stock valued at $1,918,000 after acquiring an additional 22,774 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.3 %

Shares of C stock opened at $69.16 on Friday. Citigroup Inc. has a 1 year low of $44.56 and a 1 year high of $70.20. The firm has a market capitalization of $130.79 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The firm’s fifty day simple moving average is $64.07 and its 200 day simple moving average is $62.79. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, sell-side analysts predict that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.24%. Citigroup’s dividend payout ratio is 64.93%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America boosted 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 upped their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI lifted their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.00.

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.