Easterly Investment Partners LLC Decreases Stock Position in Citigroup Inc. (NYSE:C)

Easterly Investment Partners LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 213,404 shares of the company’s stock after selling 443 shares during the quarter. Citigroup makes up 1.1% of Easterly Investment Partners LLC’s holdings, making the stock its 25th largest holding. Easterly Investment Partners LLC’s holdings in Citigroup were worth $13,359,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in Citigroup by 123.5% in 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 acquiring an additional 17,525,484 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after buying an additional 250,716 shares in the last quarter. Legal & General Group Plc grew its position in shares of Citigroup by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after buying an additional 913,231 shares in the last quarter. Greenhaven Associates Inc. grew its position in shares of Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after buying an additional 242,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Citigroup by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock worth $590,106,000 after buying an additional 168,070 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.3 %

C stock traded up $0.88 during trading on Friday, reaching $68.99. 4,728,248 shares of the stock traded hands, compared to its average volume of 14,396,235. The business’s 50 day moving average price is $62.30 and its 200-day moving average price is $62.31. Citigroup Inc. has a 52-week low of $41.28 and a 52-week high of $70.09. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94. The firm has a market capitalization of $131.62 billion, a PE ratio of 20.00, a P/E/G ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share 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 the consensus estimate of $19.86 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Citigroup Inc. will post 5.87 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on C. Bank of America upped their price objective on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Evercore ISI raised their price objective on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Piper Sandler raised 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. Finally, Oppenheimer raised their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.06.

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.