Impax Asset Management Group plc Decreases Stock Position in Citigroup Inc. (NYSE:C)

Impax Asset Management Group plc cut its holdings in Citigroup Inc. (NYSE:C) by 2.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,035 shares of the company’s stock after selling 3,157 shares during the quarter. Impax Asset Management Group plc’s holdings in Citigroup were worth $9,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Price T Rowe Associates Inc. MD raised its stake in shares of Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Citigroup by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after purchasing an additional 250,716 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after purchasing an additional 913,231 shares during the last quarter. Greenhaven Associates Inc. raised its stake in shares of Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Citigroup by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock valued at $590,106,000 after acquiring an additional 168,070 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Barclays lifted their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday. Finally, Bank of America raised their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Stock Up 0.9 %

Shares of NYSE C opened at $68.76 on Friday. The stock has a market cap of $130.04 billion, a PE ratio of 19.93, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12-month low of $44.32 and a 12-month high of $70.20. The company has a 50-day moving average of $63.21 and a 200 day moving average of $62.59.

Citigroup (NYSE:C) last posted its quarterly 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. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the business earned $1.52 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.26%. Citigroup’s payout ratio is 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.