Navellier & Associates Inc. Sells 3,278 Shares of Citigroup Inc. (NYSE:C)

Navellier & Associates Inc. cut its stake in Citigroup Inc. (NYSE:C) by 21.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,998 shares of the company’s stock after selling 3,278 shares during the quarter. Navellier & Associates Inc.’s holdings in Citigroup were worth $751,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in C. POM Investment Strategies LLC bought a new stake in shares of Citigroup during the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup in the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC grew its stake in Citigroup by 85.5% in 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 during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the second quarter worth about $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America boosted their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Barclays upped 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. One investment 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 data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Trading Up 1.3 %

Shares of Citigroup stock opened at $69.16 on Friday. Citigroup Inc. has a 1 year low of $44.56 and a 1 year high of $70.20. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $130.79 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The firm has a fifty day moving average price of $64.07 and a 200 day moving average price of $62.79.

Citigroup (NYSE:C) last announced 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. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter last year, the firm posted $1.52 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

About Citigroup

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.