Janney Montgomery Scott LLC Trims Stock Holdings in Citigroup Inc. (NYSE:C)

Janney Montgomery Scott LLC decreased its position in Citigroup Inc. (NYSE:C) by 6.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 638,972 shares of the company’s stock after selling 44,858 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Citigroup were worth $40,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. POM Investment Strategies LLC acquired a new stake in Citigroup during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the third quarter valued at $28,000. Beacon Capital Management LLC lifted its position in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup in the 2nd quarter worth about $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in Citigroup in the 2nd quarter valued at about $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. BMO Capital Markets increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Oppenheimer reduced their price target 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. Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Bank of America upped their target price on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Stock Down 0.7 %

Shares of NYSE:C opened at $63.71 on Monday. Citigroup Inc. has a 1-year low of $39.93 and a 1-year high of $67.81. The company’s fifty day moving average is $61.97 and its two-hundred day moving average is $62.16. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96. The stock has a market capitalization of $121.55 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $1.52 earnings per share. Equities analysts anticipate 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 22nd. Shareholders of record on Monday, November 4th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Citigroup 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.