Citigroup Inc. (NYSE:C) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators cut its position in Citigroup Inc. (NYSE:C) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,959 shares of the company’s stock after selling 394 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Citigroup were worth $623,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in C. POM Investment Strategies LLC purchased a new stake in Citigroup during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup during the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC raised its stake in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup during the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Citigroup during the 2nd quarter worth approximately $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on C shares. Morgan Stanley cut their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Oppenheimer increased their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday. BMO Capital Markets increased their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Bank of America increased their target price on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.06.

Citigroup Stock Performance

Shares of C opened at $68.35 on Thursday. The business’s fifty day moving average price is $62.02 and its 200 day moving average price is $62.22. Citigroup Inc. has a 12-month low of $41.28 and a 12-month high of $70.09. The stock has a market capitalization of $130.40 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94.

Citigroup (NYSE:C) last issued 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 firm had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. Equities research analysts forecast that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.28%. Citigroup’s dividend payout ratio is currently 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.