Sanders Capital LLC decreased its holdings in Citigroup Inc (NYSE:C) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,207,330 shares of the financial services provider’s stock after selling 274,710 shares during the quarter. Citigroup comprises approximately 3.1% of Sanders Capital LLC’s portfolio, making the stock its 15th biggest holding. Sanders Capital LLC owned about 0.32% of Citigroup worth $665,873,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. Legacy Advisors LLC boosted its stake in Citigroup by 349.7% in the 2nd quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,336 shares during the last quarter. IMA Wealth Inc. acquired a new position in shares of Citigroup in the 2nd quarter valued at about $129,000. Arlington Partners LLC acquired a new position in shares of Citigroup in the 3rd quarter valued at about $143,000. Peoples Financial Services CORP. lifted its stake in shares of Citigroup by 82.8% in the 3rd quarter. Peoples Financial Services CORP. now owns 2,208 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Citigroup in the 3rd quarter valued at about $166,000. Hedge funds and other institutional investors own 74.84% of the company’s stock.
In other news, CEO Francisco Aristeguieta sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total value of $1,085,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.07. Citigroup had a positive return on equity of 9.42% and a negative net margin of 4.81%. The company had revenue of $18.39 billion during the quarter, compared to analyst estimates of $18.43 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. Equities analysts expect that Citigroup Inc will post 6.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 5th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 2nd. Citigroup’s dividend payout ratio is presently 33.77%.
Several equities analysts have recently weighed in on C shares. TheStreet raised Citigroup from a “c” rating to a “b-” rating in a research note on Monday, July 30th. Wells Fargo & Co set a $100.00 target price on Citigroup and gave the company a “buy” rating in a report on Monday, August 27th. Royal Bank of Canada reiterated a “buy” rating and set a $85.00 target price on shares of Citigroup in a report on Monday, July 16th. Deutsche Bank raised their target price on Citigroup from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Finally, Vining Sparks reiterated a “buy” rating and set a $77.00 target price on shares of Citigroup in a report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and an average target price of $82.91.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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