Harvest Fund Management Co. Ltd Sells 3,734 Shares of Citigroup Inc. (NYSE:C)

Harvest Fund Management Co. Ltd lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 65.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,989 shares of the company’s stock after selling 3,734 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Citigroup were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fisher Asset Management LLC boosted its holdings in Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after acquiring an additional 911,694 shares in the last quarter. Centaurus Financial Inc. raised its position in shares of Citigroup by 10.9% in the 3rd quarter. Centaurus Financial Inc. now owns 8,594 shares of the company’s stock worth $538,000 after purchasing an additional 842 shares during the last quarter. Round Hill Asset Management boosted its stake in Citigroup by 1.9% in the 3rd quarter. Round Hill Asset Management now owns 29,429 shares of the company’s stock worth $1,842,000 after purchasing an additional 545 shares in the last quarter. Algert Global LLC purchased a new stake in Citigroup during the 3rd quarter valued at about $3,696,000. Finally, Kingsview Wealth Management LLC increased its stake in Citigroup by 11.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 16,186 shares of the company’s stock valued at $1,013,000 after purchasing an additional 1,619 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on C shares. Evercore ISI increased their price target 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. Bank of America upped 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. Barclays lifted their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Oppenheimer increased their price objective on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Citigroup Stock Performance

Shares of NYSE C opened at $70.16 on Thursday. Citigroup Inc. has a 12-month low of $44.56 and a 12-month high of $71.19. The firm has a market capitalization of $132.69 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The firm has a 50 day moving average of $64.98 and a 200 day moving average of $62.99.

Citigroup (NYSE:C) last issued its quarterly earnings data 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 net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Citigroup Profile

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.