Citigroup Inc. $C Stock: Knights of Columbus Asset Advisors LLC Decreases Holdings

Knights of Columbus Asset Advisors LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 27.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,935 shares of the company’s stock after selling 26,621 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Citigroup were worth $9,185,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Citigroup in the 2nd quarter valued at $3,244,602,000. Nykredit A S bought a new stake in shares of Citigroup during the 2nd quarter valued at $458,275,000. State Street Corp lifted its position in shares of Citigroup by 3.7% during the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after acquiring an additional 2,913,701 shares during the period. SEB Asset Management AB bought a new stake in shares of Citigroup during the 1st quarter valued at $252,972,000. Finally, OMERS ADMINISTRATION Corp grew its holdings in shares of Citigroup by 1,137.1% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,840,374 shares of the company’s stock worth $257,579,000 after purchasing an additional 1,691,611 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

NYSE C opened at $122.29 on Wednesday. The firm’s fifty day moving average price is $128.52 and its two-hundred day moving average price is $126.67. The stock has a market cap of $208.58 billion, a PE ratio of 11.93, a PEG ratio of 0.54 and a beta of 1.18. 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 quick ratio of 1.00 and a current ratio of 1.00.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 2nd will be issued a $0.67 dividend. 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 is presently 26.15%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a research report on Friday, October 30th. UBS Group set a $148.00 price objective on shares of Citigroup in a research report on Wednesday, October 14th. TD Cowen reduced their price objective on shares of Citigroup from $150.00 to $148.00 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. Finally, HSBC assumed coverage on shares of Citigroup in a report on Monday, September 28th. They issued a “buy” rating and a $164.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.87.

More Citigroup News

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.