AIA Group Ltd Sells 54,596 Shares of Citigroup Inc. (NYSE:C)

AIA Group Ltd lessened its stake in shares of Citigroup Inc. (NYSE:C) by 43.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,711 shares of the company’s stock after selling 54,596 shares during the quarter. AIA Group Ltd’s holdings in Citigroup were worth $4,364,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. POM Investment Strategies LLC acquired a new stake in shares of Citigroup during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup during the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC increased its holdings in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Citigroup in the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new position in Citigroup in the second quarter worth $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on C. Barclays raised their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Argus raised their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley dropped their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Bank of America boosted their price objective on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.06.

Citigroup Stock Down 1.4 %

Shares of Citigroup stock opened at $68.09 on Friday. Citigroup Inc. has a 12 month low of $41.28 and a 12 month high of $70.09. The business has a fifty day simple moving average of $62.17 and a 200 day simple moving average of $62.27. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market cap of $129.90 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. Research analysts predict that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, November 4th. Citigroup’s 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.