Carson Advisory Inc. Decreases Holdings in Citigroup Inc. (NYSE:C)

Carson Advisory Inc. reduced its stake in Citigroup Inc. (NYSE:C) by 2.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 17,288 shares of the company’s stock after selling 425 shares during the period. Carson Advisory Inc.’s holdings in Citigroup were worth $1,082,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Swedbank AB bought a new stake in Citigroup during the 1st quarter worth approximately $253,286,000. Acadian Asset Management LLC boosted its stake in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after buying an additional 2,100,135 shares during the period. Caxton Associates LP grew its position in Citigroup by 7,393.3% during the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Finally, Capital World Investors raised its position in Citigroup by 26.1% during the first quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock valued at $333,929,000 after purchasing an additional 1,092,980 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.8 %

Citigroup stock opened at $68.63 on Friday. The stock has a market capitalization of $130.93 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 0.69 and a beta of 1.44. The stock has a 50 day moving average of $62.30 and a two-hundred day moving average of $62.31. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a twelve month low of $41.28 and a twelve month high of $70.09.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion for 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%. Citigroup’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. As a group, research analysts expect that Citigroup Inc. will post 5.87 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.26%. Citigroup’s payout ratio is currently 64.93%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Oppenheimer boosted their target price on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Bank of America increased their price objective on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Argus increased their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Piper Sandler boosted their price objective on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.06.

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.