Birmingham Capital Management Co. Inc. AL Trims Stake in Citigroup Inc. (NYSE:C)

Birmingham Capital Management Co. Inc. AL lessened its position in Citigroup Inc. (NYSE:C) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,215 shares of the company’s stock after selling 250 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Citigroup were worth $1,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares in the last quarter. Caxton Associates LP raised its position in Citigroup by 96.1% in the 2nd quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after buying an additional 1,937,038 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after acquiring an additional 1,865,628 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after acquiring an additional 1,404,120 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C traded down $0.41 during trading hours on Friday, reaching $71.02. The company had a trading volume of 1,705,962 shares, compared to its average volume of 14,317,794. The business’s 50 day moving average price is $67.11 and its 200-day moving average price is $63.60. Citigroup Inc. has a 1-year low of $49.17 and a 1-year high of $73.38. The firm has a market cap of $134.32 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

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. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.15%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on C shares. Bank of America boosted their price objective on shares of Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Evercore ISI lifted their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $82.00 in a report on Tuesday, December 3rd. Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.63.

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.