Golden State Equity Partners Has $1.02 Million Stock Position in Citigroup Inc. (NYSE:C)

Golden State Equity Partners cut its stake in Citigroup Inc. (NYSE:C) by 15.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,300 shares of the company’s stock after selling 3,072 shares during the quarter. Golden State Equity Partners’ holdings in Citigroup were worth $1,020,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of C. MONECO Advisors LLC lifted its holdings in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after buying an additional 157 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in shares of Citigroup by 4.0% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after purchasing an additional 164 shares during the period. NorthRock Partners LLC boosted its stake in shares of Citigroup by 2.7% during the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after buying an additional 165 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after acquiring an additional 169 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on C. The Goldman Sachs Group dropped their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Oppenheimer cut their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Bank of America upped their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays raised their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley dropped their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. 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.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Price Performance

Shares of NYSE C traded up $0.06 during mid-day trading on Wednesday, hitting $64.75. 404,669 shares of the stock traded hands, compared to its average volume of 14,303,489. Citigroup Inc. has a twelve month low of $38.92 and a twelve month high of $67.81. The firm has a 50 day simple moving average of $61.79 and a two-hundred day simple moving average of $62.03. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $123.53 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last issued its quarterly 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 company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. As a group, equities research analysts forecast that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio is 64.93%.

Citigroup 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.