Citigroup Inc (NYSE:C) Shares Sold by HGK Asset Management Inc.

HGK Asset Management Inc. lessened its position in Citigroup Inc (NYSE:C) by 17.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,016 shares of the financial services provider’s stock after selling 18,596 shares during the period. Citigroup makes up 1.8% of HGK Asset Management Inc.’s portfolio, making the stock its 24th biggest position. HGK Asset Management Inc.’s holdings in Citigroup were worth $6,314,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in C. Personal Wealth Partners acquired a new position in shares of Citigroup in the 2nd quarter worth approximately $27,000. Mcmillion Capital Management Inc. acquired a new stake in shares of Citigroup in the 2nd quarter valued at $31,000. MRA Associates USA LLC acquired a new stake in shares of Citigroup in the 2nd quarter valued at $34,000. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Citigroup in the 3rd quarter valued at $33,000. Finally, Bray Capital Advisors boosted its stake in shares of Citigroup by 257.4% in the 2nd quarter. Bray Capital Advisors now owns 486 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. 76.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:C opened at $72.75 on Friday. The stock has a market capitalization of $163.67 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.83 and a beta of 1.80. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $73.08. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average price of $69.10 and a two-hundred day moving average price of $67.82.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.12. The firm 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 company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. As a group, equities analysts predict that Citigroup Inc will post 7.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.80%. Citigroup’s dividend payout ratio (DPR) is presently 30.68%.

In other news, insider Michael Whitaker sold 7,500 shares of the company’s 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 directly owns 93,848 shares of the company’s stock, valued at approximately $5,821,391.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Citigroup from $81.00 to $77.50 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Bank of America downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. UBS Group upped their price target on shares of Citigroup from $87.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Vining Sparks upgraded shares of Citigroup to a “buy” rating and set a $80.00 price target on the stock in a research report on Wednesday, October 9th. Finally, BMO Capital Markets downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $79.75.

About Citigroup

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).

Further Reading: Diluted Earnings Per Share

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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