Citigroup Inc. $C Stock Sold by Davis Investment Partners LLC

Davis Investment Partners LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 66.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,394 shares of the company’s stock after selling 4,732 shares during the period. Davis Investment Partners LLC’s holdings in Citigroup were worth $310,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. raised its position in Citigroup by 12.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 26,597 shares of the company’s stock worth $3,444,000 after acquiring an additional 2,861 shares in the last quarter. Keybank National Association OH grew its position in shares of Citigroup by 2.2% in the 3rd quarter. Keybank National Association OH now owns 62,030 shares of the company’s stock valued at $8,032,000 after acquiring an additional 1,334 shares during the period. Csenge Advisory Group grew its position in shares of Citigroup by 2.6% in the 3rd quarter. Csenge Advisory Group now owns 12,352 shares of the company’s stock valued at $1,599,000 after acquiring an additional 313 shares during the period. DMKC Advisory Services LLC increased its stake in shares of Citigroup by 8.2% during the 3rd quarter. DMKC Advisory Services LLC now owns 21,900 shares of the company’s stock worth $2,836,000 after purchasing an additional 1,668 shares during the last quarter. Finally, 71 West Capital Partners increased its stake in shares of Citigroup by 2.9% during the 3rd quarter. 71 West Capital Partners now owns 10,642 shares of the company’s stock worth $1,378,000 after purchasing an additional 303 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 0.3%

C stock opened at $122.29 on Wednesday. Citigroup Inc. has a fifty-two week low of $95.83 and a fifty-two week high of $147.96. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $208.58 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.54 and a beta of 1.18. The business’s fifty day moving average price is $128.52 and its two-hundred day moving average price is $126.67.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.19. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The company had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. Citigroup’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Citigroup Inc. will post 11.44 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 2nd will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 2nd. Citigroup’s dividend payout ratio (DPR) is currently 26.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Royal Bank Of Canada reduced their price target on Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Weiss Ratings downgraded Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Loop Capital set a $155.00 price objective on Citigroup in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.87.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is among a group of global banks committing about $270 million to fund a U.S.-based stablecoin issuer for its first five years. The venture could give Citi a role in the growing digital-payments market, though its expected returns and Citi’s individual contribution were not disclosed. Article: Goldman, Citi join global banks in $270 million stablecoin venture
• Positive Sentiment: CEO Jane Fraser said a newly approved brokerage license gives Citi an edge over rivals in China, supporting the bank’s growth ambitions in the market. The opportunity may take time to translate into material results and remains subject to local operating conditions. Article: Citigroup’s Fraser Says China License Gives Bank Edge on Rivals
• Neutral Sentiment: Citi announced it will redeem all $1 billion of its Series Y preferred stock. This is a capital-structure action; the report did not describe a change to the bank’s business outlook. Article: Citigroup Announces Full Redemption of Series Y Preferred Stock

Citigroup Company Profile

Citigroup Inc. is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions. The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.