Citigroup Inc. $C Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in shares of Citigroup Inc. (NYSE:C) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 552,041 shares of the company’s stock after selling 6,550 shares during the quarter. Fifth Third Bancorp’s holdings in Citigroup were worth $71,478,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in C. Compass Financial Management LLC purchased a new stake in shares of Citigroup in the 2nd quarter worth about $898,000. Andra AP fonden lifted its position in Citigroup by 22.3% during the 2nd quarter. Andra AP fonden now owns 274,600 shares of the company’s stock valued at $38,433,000 after acquiring an additional 50,100 shares during the period. Concurrent Investment Advisors LLC lifted its position in Citigroup by 30.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 131,946 shares of the company’s stock valued at $18,467,000 after acquiring an additional 31,007 shares during the period. Saudi Central Bank boosted its stake in Citigroup by 80.8% during the second quarter. Saudi Central Bank now owns 119,392 shares of the company’s stock worth $16,710,000 after acquiring an additional 53,348 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in Citigroup by 11.4% during the third quarter. Citizens Financial Group Inc. RI now owns 233,093 shares of the company’s stock worth $30,181,000 after acquiring an additional 23,870 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $124.09 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $211.65 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.55 and a beta of 1.18. The firm’s 50 day moving average price is $128.15 and its 200-day moving average price is $126.77. Citigroup Inc. has a twelve month low of $95.83 and a twelve month high of $147.96.

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 the consensus estimate 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 analyst estimates of $23.74 billion. During the same period in the previous year, the business posted $1.86 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 11.44 EPS for the current year.

Citigroup Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Loop Capital set a $155.00 target price on shares of Citigroup in a research note on Tuesday, October 13th. Royal Bank Of Canada lowered their target price on shares of Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Citigroup in a research report on Wednesday, October 14th. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Finally, Evercore set a $135.00 price objective on Citigroup in a research report on Wednesday, October 14th. One investment 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.87.

Latest Citigroup News

Here’s some of the latest news about C:

• Positive Sentiment: Analyst commentary points to Citi trading at a discount to the industry, with an improving earnings outlook and ongoing business transformation—factors that could support the investment case, though the article does not identify a new company announcement. C Trades at a Discount to Industry: Right Time to Buy the Stock?
• Neutral Sentiment: Citi will redeem $1 billion of its 4.15% Series Y preferred stock, ending dividend accrual on November 15. The move simplifies its capital structure, but the report does not establish a material effect on common-share earnings or capital. Citigroup (C) Redeems Preferred Stock
• Neutral Sentiment: A post-earnings update says shares were up 1.6% since Citi’s latest report and points investors to earnings estimates for clues about future performance; it offers no fresh results or guidance. Citigroup (C) Up 1.6% Since Last Earnings Report: Can It Continue?

Citigroup 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.