Archer Investment Corp Reduces Holdings in Citigroup Inc. (NYSE:C)

Archer Investment Corp lessened its position in Citigroup Inc. (NYSE:C) by 27.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 529 shares of the company’s stock after selling 200 shares during the period. Archer Investment Corp’s holdings in Citigroup were worth $33,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in 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 valued at $1,904,262,000 after acquiring an additional 250,716 shares in the last quarter. Legal & General Group Plc grew its holdings in 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. increased its position in shares of Citigroup by 1.5% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings 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 valued at $590,106,000 after purchasing an additional 168,070 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.9 %

Shares of NYSE:C opened at $68.76 on Friday. 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 fifty day simple moving average of $63.21 and a 200 day simple moving average of $62.59. The firm has a market cap of $130.04 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

Citigroup (NYSE:C) last announced its quarterly 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. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. On average, equities research analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on C. Oppenheimer raised their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Bank of America boosted their price target on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. 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. The Goldman Sachs Group dropped their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.