Charles Schwab Investment Management Inc. Trims Position in Citigroup Inc. (NYSE:C)

Charles Schwab Investment Management Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 0.6% during the third quarter, Holdings Channel reports. The firm owned 14,259,241 shares of the company’s stock after selling 90,476 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Citigroup were worth $892,628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in C. Price T Rowe Associates Inc. MD raised its stake in shares of Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after acquiring an additional 17,525,484 shares in the last quarter. Swedbank AB purchased a new stake in shares of Citigroup in the 1st quarter worth $253,286,000. Acadian Asset Management LLC lifted its holdings in shares of Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares during the period. Caxton Associates LP grew its position in shares of Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Finally, Capital World Investors grew its holdings in Citigroup by 26.1% during the 1st quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock worth $333,929,000 after acquiring an additional 1,092,980 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 0.3 %

Citigroup stock opened at $68.48 on Thursday. The stock has a 50-day simple moving average of $63.84 and a 200-day simple moving average of $62.75. The company has a market capitalization of $129.51 billion, a P/E ratio of 19.79, a PEG ratio of 0.77 and a beta of 1.44. 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 fifty-two week low of $44.56 and a fifty-two week high of $70.20.

Citigroup (NYSE:C) last issued its earnings results 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. The business 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 business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Equities research analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.27%. Citigroup’s dividend payout ratio is presently 64.93%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on C. Oppenheimer upped their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Barclays raised their price target on 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 issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.