Citigroup Inc. (NYSE:C) Position Reduced by ARGA Investment Management LP

ARGA Investment Management LP lessened its holdings in Citigroup Inc. (NYSE:C) by 15.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 739,074 shares of the company’s stock after selling 136,753 shares during the quarter. Citigroup comprises about 1.5% of ARGA Investment Management LP’s investment portfolio, making the stock its 19th largest position. ARGA Investment Management LP’s holdings in Citigroup were worth $46,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Citigroup by 33.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,637 shares of the company’s stock valued at $346,000 after purchasing an additional 1,417 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Citigroup by 11.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 7,804 shares of the company’s stock valued at $495,000 after acquiring an additional 831 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Citigroup in the second quarter worth $109,000. Versant Capital Management Inc raised its holdings in shares of Citigroup by 1,209.6% during the second quarter. Versant Capital Management Inc now owns 1,231 shares of the company’s stock worth $78,000 after acquiring an additional 1,137 shares in the last quarter. Finally, Bank & Trust Co acquired a new stake in Citigroup during the second quarter valued at $2,119,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE C opened at $70.87 on Friday. The stock has a market capitalization of $134.03 billion, a PE ratio of 20.54, a P/E/G ratio of 0.78 and a beta of 1.44. The stock has a 50-day simple moving average of $65.30 and a 200 day simple moving average of $63.09. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a twelve month low of $45.58 and a twelve month high of $71.19.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the prior year, the business earned $1.52 earnings per share. Citigroup’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.16%. Citigroup’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on C shares. Oppenheimer upped their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley dropped their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Bank of America boosted their target price 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. The Goldman Sachs Group dropped their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Barclays upped their price objective on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus 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.