Fmr LLC Sells 702,892 Shares of Citigroup Inc. (NYSE:C)

Fmr LLC reduced its stake in Citigroup Inc. (NYSE:C) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,498,458 shares of the company’s stock after selling 702,892 shares during the quarter. Fmr LLC owned 1.40% of Citigroup worth $1,658,803,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. POM Investment Strategies LLC bought a new stake in Citigroup during the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup during the 3rd quarter worth about $28,000. Beacon Capital Management LLC lifted its position in 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 bought a new stake in Citigroup during the 2nd quarter worth about $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup during the 2nd quarter worth about $32,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Bank of America raised their target price on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer raised their target price on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group cut their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Citigroup Stock Down 1.4 %

Citigroup stock opened at $69.74 on Wednesday. The stock has a market cap of $131.90 billion, a P/E ratio of 20.21, a P/E/G ratio of 0.78 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a twelve month low of $44.56 and a twelve month high of $71.19. The company’s 50-day moving average price is $64.77 and its two-hundred day moving average price is $62.94.

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

Citigroup Dividend Announcement

The firm also recently announced 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 was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.21%. Citigroup’s dividend payout ratio is presently 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.