Citigroup Inc. (NYSE:C) Holdings Cut by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,990 shares of the company’s stock after selling 6,289 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Citigroup were worth $9,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in C. Price T Rowe Associates Inc. MD raised its holdings in Citigroup by 123.5% during 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. Swedbank AB bought a new position in Citigroup during the first quarter valued at about $253,286,000. Acadian Asset Management LLC grew its holdings in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after acquiring an additional 2,100,135 shares during the period. Caxton Associates LP raised its position in Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after acquiring an additional 1,988,494 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its position in Citigroup by 1,749.2% in the first quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock worth $82,985,000 after acquiring an additional 1,243,249 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Down 1.3 %

Shares of C stock opened at $62.35 on Tuesday. The business’s 50 day moving average is $61.98 and its two-hundred day moving average is $62.19. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12 month low of $41.28 and a 12 month high of $67.81. The company has a market cap of $118.95 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings results 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 company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the prior year, the company earned $1.52 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, November 4th. Citigroup’s payout ratio is currently 64.93%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on C. Oppenheimer reduced their target price on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a 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. BMO Capital Markets increased their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Argus boosted their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.06.

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.