R Squared Ltd Sells 7,548 Shares of Citigroup Inc. $C

R Squared Ltd lessened its stake in shares of Citigroup Inc. (NYSE:C) by 39.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,363 shares of the company’s stock after selling 7,548 shares during the period. Citigroup accounts for approximately 0.8% of R Squared Ltd’s portfolio, making the stock its 12th biggest position. R Squared Ltd’s holdings in Citigroup were worth $1,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Grove Bank & Trust grew its holdings in shares of Citigroup by 1.8% in the third quarter. Grove Bank & Trust now owns 4,549 shares of the company’s stock valued at $589,000 after purchasing an additional 79 shares during the period. American Trust raised its stake in Citigroup by 3.6% during the second quarter. American Trust now owns 2,331 shares of the company’s stock worth $326,000 after purchasing an additional 80 shares during the period. Invst LLC raised its stake in Citigroup by 0.8% during the second quarter. Invst LLC now owns 9,601 shares of the company’s stock worth $1,344,000 after purchasing an additional 80 shares during the period. Tsfg LLC boosted its holdings in Citigroup by 4.9% in the 2nd quarter. Tsfg LLC now owns 1,701 shares of the company’s stock valued at $238,000 after purchasing an additional 80 shares during the last quarter. Finally, Somerset Trust Co boosted its holdings in Citigroup by 0.6% in the 2nd quarter. Somerset Trust Co now owns 14,955 shares of the company’s stock valued at $2,093,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 0.1%

Shares of NYSE:C opened at $124.09 on Friday. The company has a market capitalization of $211.65 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.55 and a beta of 1.18. Citigroup Inc. has a 12-month low of $95.83 and a 12-month high of $147.96. The business has a 50-day moving average price of $128.15 and a 200 day moving average price of $126.77. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.78.

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

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, November 2nd. Citigroup’s payout ratio is 26.15%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen dropped their price target on shares of Citigroup from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. Loop Capital set a $155.00 price target on shares of Citigroup in a report on Tuesday, October 13th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Citigroup in a research report on Wednesday, October 14th. UBS Group set a $148.00 price objective on Citigroup in a report on Wednesday, October 14th. Finally, Royal Bank Of Canada lowered their price objective on Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $150.87.

Key Headlines Impacting Citigroup

Here are a few of the latest headlines about C:

• 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?

About Citigroup

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.