DRW Securities LLC Trims Stake in Citigroup Inc. (NYSE:C)

DRW Securities LLC reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 28.9% in the third quarter, Holdings Channel reports. The institutional investor owned 72,014 shares of the company’s stock after selling 29,262 shares during the period. DRW Securities LLC’s holdings in Citigroup were worth $4,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in C. Epoch Investment Partners Inc. purchased a new stake in Citigroup during the first quarter valued at approximately $215,000. Lazard Asset Management LLC increased 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 purchasing an additional 23,774 shares in the last quarter. SVB Wealth LLC increased its stake in shares of Citigroup by 8.5% in the first quarter. SVB Wealth LLC now owns 35,819 shares of the company’s stock worth $2,265,000 after purchasing an additional 2,816 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Citigroup by 1,328.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 130,248 shares of the company’s stock worth $8,237,000 after purchasing an additional 121,130 shares in the last quarter. Finally, Oxford Wealth Group LLC purchased a new stake in shares of Citigroup in the first quarter worth $1,233,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 1.3 %

C stock opened at $69.84 on Monday. The company has a market capitalization of $132.09 billion, a PE ratio of 20.24, a P/E/G ratio of 0.78 and a beta of 1.44. Citigroup Inc. has a 12 month low of $44.56 and a 12 month high of $70.20. The firm’s 50-day moving average is $64.32 and its 200 day moving average is $62.85. 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 (NYSE:C) last posted its quarterly 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. The company 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%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS. On average, research analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on C shares. The Goldman Sachs Group reduced 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. Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays increased 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. Morgan Stanley lowered their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Evercore ISI increased their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.