ING Groep NV Sells 139,768 Shares of Citigroup Inc. (NYSE:C)

ING Groep NV decreased its holdings in Citigroup Inc. (NYSE:C) by 57.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,156 shares of the company’s stock after selling 139,768 shares during the quarter. ING Groep NV’s holdings in Citigroup were worth $6,395,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in C. MONECO Advisors LLC lifted its holdings in Citigroup by 2.9% during the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after buying an additional 157 shares during the period. Lifestyle Asset Management Inc. boosted its holdings in Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares during the period. Legacy Capital Group California Inc. raised its holdings in Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Up 0.9 %

NYSE:C opened at $68.76 on Friday. 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 Inc. has a one year low of $44.32 and a one year high of $70.20. The company has a market cap of $130.04 billion, a PE ratio of 19.93, a PEG ratio of 0.77 and a beta of 1.44. The firm has a 50-day moving average of $63.21 and a 200-day moving average of $62.59.

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 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 for the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on C shares. Barclays increased their price objective on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Evercore ISI boosted their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Bank of America lifted their target price on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a 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 given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.