Beech Hill Advisors Inc. Sells 2,540 Shares of Citigroup Inc (NYSE:C)

Beech Hill Advisors Inc. reduced its holdings in shares of Citigroup Inc (NYSE:C) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,399 shares of the financial services provider’s stock after selling 2,540 shares during the quarter. Citigroup accounts for about 2.7% of Beech Hill Advisors Inc.’s holdings, making the stock its 14th biggest holding. Beech Hill Advisors Inc.’s holdings in Citigroup were worth $5,001,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Personal Wealth Partners acquired a new position in Citigroup in the 2nd quarter worth about $27,000. Mcmillion Capital Management Inc. acquired a new position in Citigroup in the 2nd quarter worth about $31,000. MRA Associates USA LLC acquired a new position in Citigroup in the 2nd quarter worth about $34,000. Garrett Wealth Advisory Group LLC acquired a new position in Citigroup in the 3rd quarter worth about $33,000. Finally, Bray Capital Advisors increased its holdings in Citigroup by 257.4% in the 2nd quarter. Bray Capital Advisors now owns 486 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 76.69% of the company’s stock.

In other news, insider Michael Whitaker sold 7,500 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the sale, the insider now owns 93,848 shares of the company’s stock, valued at $5,821,391.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

A number of equities analysts have issued reports on the company. Bank of America cut Citigroup to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on Citigroup from $81.00 to $77.50 and set an “overweight” rating for the company in a report on Thursday, October 10th. BMO Capital Markets cut Citigroup to a “hold” rating in a report on Friday, July 26th. Morgan Stanley set a $78.00 target price on Citigroup and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Wells Fargo & Co set a $85.00 target price on Citigroup and gave the stock a “buy” rating in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $79.75.

Shares of C stock opened at $69.74 on Friday. The stock has a market cap of $157.23 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.79 and a beta of 1.80. The stock has a 50-day moving average of $68.24 and a 200-day moving average of $67.62. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $73.08.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.12. The company had revenue of $18.57 billion during the quarter, compared to analysts’ expectations of $18.54 billion. Citigroup had a return on equity of 10.16% and a net margin of 18.28%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Sell-side analysts forecast that Citigroup Inc will post 7.55 earnings per share for the current year.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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