New England Asset Management Inc. Sells 5,300 Shares of Citigroup Inc. (C)

New England Asset Management Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,300 shares of the financial services provider’s stock after selling 5,300 shares during the quarter. New England Asset Management Inc.’s holdings in Citigroup were worth $2,093,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of Citigroup by 0.8% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 40 shares during the last quarter. Leisure Capital Management raised its holdings in shares of Citigroup by 1.6% in the second quarter. Leisure Capital Management now owns 3,763 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 59 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in shares of Citigroup by 2.0% in the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 74 shares during the last quarter. Halbert Hargrove Russell LLC raised its holdings in shares of Citigroup by 1.6% in the second quarter. Halbert Hargrove Russell LLC now owns 4,736 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 74 shares during the last quarter. Finally, Usca Ria LLC raised its holdings in shares of Citigroup by 0.3% in the second quarter. Usca Ria LLC now owns 34,375 shares of the financial services provider’s stock worth $2,299,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Citigroup Inc. (C) opened at $72.02 on Monday. The company has a market capitalization of $190,421.02, a PE ratio of 13.88, a P/E/G ratio of 1.41 and a beta of 1.57. Citigroup Inc. has a 1-year low of $55.23 and a 1-year high of $76.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11.

Citigroup (NYSE:C) last released its earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The company had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. During the same quarter last year, the business posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.3% compared to the same quarter last year. equities analysts forecast that Citigroup Inc. will post 5.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Friday, November 3rd. Citigroup’s dividend payout ratio is presently 24.66%.

Several equities analysts recently commented on the company. ValuEngine upgraded Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Credit Suisse Group reiterated a “buy” rating and issued a $73.00 target price on shares of Citigroup in a research note on Wednesday, September 13th. Raymond James Financial, Inc. assumed coverage on Citigroup in a research note on Tuesday, October 31st. They issued a “hold” rating for the company. Morgan Stanley upped their target price on Citigroup from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Finally, Jefferies Group LLC set a $81.00 target price on Citigroup and gave the company a “neutral” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $75.61.

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About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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