Rock Point Advisors LLC Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

Rock Point Advisors LLC lowered its stake in Citigroup Inc. (NYSE:C) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 267,887 shares of the company’s stock after selling 4,416 shares during the quarter. Citigroup accounts for 4.6% of Rock Point Advisors LLC’s portfolio, making the stock its largest position. Rock Point Advisors LLC’s holdings in Citigroup were worth $16,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its stake in shares of Citigroup by 1,328.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 130,248 shares of the company’s stock valued at $8,237,000 after acquiring an additional 121,130 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Citigroup by 19.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 60,511 shares of the company’s stock worth $3,827,000 after buying an additional 9,884 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its position in shares of Citigroup by 15.5% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 28,252 shares of the company’s stock valued at $1,787,000 after purchasing an additional 3,794 shares during the last quarter. Tidal Investments LLC lifted its stake in Citigroup by 5.3% in the first quarter. Tidal Investments LLC now owns 78,298 shares of the company’s stock worth $4,946,000 after purchasing an additional 3,976 shares during the last quarter. Finally, Comerica Bank grew its position in Citigroup by 1.0% in the 1st quarter. Comerica Bank now owns 565,542 shares of the company’s stock valued at $35,765,000 after acquiring an additional 5,627 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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. Barclays lifted 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. The Goldman Sachs Group cut their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Bank of America upped their price objective on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Citigroup Price Performance

Shares of C traded down $0.76 during midday trading on Tuesday, reaching $69.99. The stock had a trading volume of 438,539 shares, compared to its average volume of 14,386,586. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 52 week low of $44.56 and a 52 week high of $71.19. The company has a market capitalization of $132.37 billion, a P/E ratio of 20.50, a P/E/G ratio of 0.78 and a beta of 1.44. The firm’s 50 day moving average price is $64.56 and its 200-day moving average price is $62.90.

Citigroup (NYSE:C) last posted its quarterly earnings results 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. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 earnings per share. On average, analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 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.