Hartford Investment Management Co. Trims Holdings in Citigroup Inc. (NYSE:C)

Hartford Investment Management Co. lowered its holdings in Citigroup Inc. (NYSE:C) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 120,078 shares of the company’s stock after selling 1,932 shares during the quarter. Hartford Investment Management Co.’s holdings in Citigroup were worth $7,517,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Citigroup by 123.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after acquiring an additional 17,525,484 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Citigroup by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after purchasing an additional 250,716 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after purchasing an additional 913,231 shares during the last quarter. Greenhaven Associates Inc. boosted its position in shares of Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Citigroup by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock worth $590,106,000 after buying an additional 168,070 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

NYSE C traded down $0.15 on Wednesday, reaching $63.41. 376,078 shares of the stock were exchanged, compared to its average volume of 14,371,190. The company’s 50-day simple moving average is $61.43 and its two-hundred day simple moving average is $61.92. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $120.95 billion, a PE ratio of 17.71, a PEG ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same period last year, the firm earned $1.52 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley dropped their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Oppenheimer cut their price objective on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Bank of America upped their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI raised their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Finally, BMO Capital Markets upped their price objective on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.06.

Citigroup Company 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.