Citigroup Inc. $C Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 2.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 593,893 shares of the company’s stock after selling 15,155 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Citigroup were worth $76,897,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in C. State Street Corp grew its stake in shares of Citigroup by 3.7% in the second quarter. State Street Corp now owns 80,956,349 shares of the company’s stock worth $11,199,986,000 after acquiring an additional 2,913,701 shares during the period. Bank of New York Mellon Corp bought a new position in Citigroup during the second quarter valued at approximately $3,244,602,000. Bank of America Corp DE lifted its position in Citigroup by 2.8% during the first quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock valued at $3,047,215,000 after purchasing an additional 728,043 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Citigroup by 10.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock valued at $1,745,001,000 after purchasing an additional 1,210,006 shares during the period. Finally, Amundi boosted its holdings in Citigroup by 3.2% in the first quarter. Amundi now owns 12,126,823 shares of the company’s stock worth $1,375,303,000 after purchasing an additional 374,840 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $124.09 on Friday. The firm’s 50 day moving average price is $128.15 and its 200-day moving average price is $126.77. Citigroup Inc. has a twelve month low of $95.83 and a twelve month high of $147.96. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $211.65 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.55 and a beta of 1.18.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.19. The company had revenue of $23.84 billion for the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. Equities research analysts expect that Citigroup Inc. will post 11.44 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 2nd will be given a $0.67 dividend. The ex-dividend date is Monday, November 2nd. This represents a $2.68 annualized dividend and a yield of 2.2%. Citigroup’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Weiss Ratings cut Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Evercore set a $135.00 price target on Citigroup in a research note on Wednesday, October 14th. Finally, HSBC began coverage on Citigroup in a report on Monday, September 28th. They issued a “buy” rating and a $164.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.87.

Top Citigroup Stories

These are some of the C stories that stood out recently:

• Positive Sentiment: Analyst commentary points to Citi trading at a discount to the industry, with an improving earnings outlook and ongoing business transformation—factors that could support the investment case, though the article does not identify a new company announcement. C Trades at a Discount to Industry: Right Time to Buy the Stock?
• Neutral Sentiment: Citi will redeem $1 billion of its 4.15% Series Y preferred stock, ending dividend accrual on November 15. The move simplifies its capital structure, but the report does not establish a material effect on common-share earnings or capital. Citigroup (C) Redeems Preferred Stock
• Neutral Sentiment: A post-earnings update says shares were up 1.6% since Citi’s latest report and points investors to earnings estimates for clues about future performance; it offers no fresh results or guidance. Citigroup (C) Up 1.6% Since Last Earnings Report: Can It Continue?

Citigroup Profile

Citigroup Inc. is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions. The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.