Retirement Systems of Alabama Sells 2,365 Shares of Citigroup Inc. (NYSE:C)

Retirement Systems of Alabama lowered its position in Citigroup Inc. (NYSE:C) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 418,396 shares of the company’s stock after selling 2,365 shares during the period. Retirement Systems of Alabama’s holdings in Citigroup were worth $26,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Triad Wealth Partners LLC acquired a new stake in Citigroup in the 2nd quarter valued at about $32,000. Blue Trust Inc. lifted its holdings in Citigroup by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 7,275 shares of the company’s stock worth $460,000 after buying an additional 5,139 shares in the last quarter. Gradient Investments LLC lifted its holdings in Citigroup by 15.5% during the 2nd quarter. Gradient Investments LLC now owns 6,309 shares of the company’s stock worth $400,000 after buying an additional 848 shares in the last quarter. Everpar Advisors LLC boosted its position in Citigroup by 3.5% in the 2nd quarter. Everpar Advisors LLC now owns 5,256 shares of the company’s stock valued at $334,000 after buying an additional 180 shares during the last quarter. Finally, OFI Invest Asset Management raised its position in shares of Citigroup by 51.5% during the second quarter. OFI Invest Asset Management now owns 1,068 shares of the company’s stock worth $63,000 after acquiring an additional 363 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley lowered their price target 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. Keefe, Bruyette & Woods upgraded shares of 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, December 3rd. Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their price objective on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Bank of America increased their target price on Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.63.

Citigroup Stock Down 0.6 %

C opened at $71.01 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock’s fifty day simple moving average is $67.28 and its 200 day simple moving average is $63.65. Citigroup Inc. has a 1-year low of $49.17 and a 1-year high of $73.38. The stock has a market cap of $134.30 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the business posted $1.52 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts expect that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.15%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Citigroup Company 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.