NFJ Investment Group LLC Trims Stock Holdings in Citigroup Inc. (NYSE:C)

NFJ Investment Group LLC lessened its stake in shares of Citigroup Inc. (NYSE:C) by 28.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,593 shares of the company’s stock after selling 130,519 shares during the quarter. NFJ Investment Group LLC’s holdings in Citigroup were worth $20,445,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in C. POM Investment Strategies LLC acquired a new stake in shares of Citigroup in the second quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the 3rd quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup in the second quarter valued at $31,000. Triad Wealth Partners LLC acquired a new stake in shares of Citigroup during the 2nd quarter worth about $32,000. Finally, Strategic Financial Concepts LLC lifted its stake in Citigroup by 1,139.7% during the second quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after purchasing an additional 48,484 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

C traded up $0.34 during trading on Tuesday, reaching $71.73. 4,044,276 shares of the stock were exchanged, compared to its average volume of 14,332,891. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $135.66 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 0.79 and a beta of 1.45. Citigroup Inc. has a 1 year low of $46.40 and a 1 year high of $72.80. The business’s 50 day moving average price is $65.30 and its two-hundred day moving average price is $63.08.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) 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 company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.12%. Citigroup’s dividend payout ratio is currently 64.93%.

Analyst Upgrades and Downgrades

C has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of 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 cut their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and upped their target price for the company from $70.00 to $82.00 in a research report on Tuesday. The Goldman Sachs Group reduced 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, Piper Sandler lifted their target price on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

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.