Louisiana State Employees Retirement System cut its position in shares of Citigroup Inc (NYSE:C) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,700 shares of the financial services provider’s stock after selling 7,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Citigroup were worth $7,509,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Trust N.A. grew its holdings in Citigroup by 3.5% in the third quarter. Raymond James Trust N.A. now owns 42,066 shares of the financial services provider’s stock worth $2,906,000 after purchasing an additional 1,440 shares during the period. Quadrant Capital Group LLC grew its holdings in Citigroup by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,948 shares of the financial services provider’s stock worth $1,428,000 after purchasing an additional 276 shares during the period. Foster & Motley Inc. grew its holdings in Citigroup by 20.3% in the third quarter. Foster & Motley Inc. now owns 13,223 shares of the financial services provider’s stock worth $913,000 after purchasing an additional 2,227 shares during the period. Boys Arnold & Co. Inc. grew its holdings in Citigroup by 18.3% in the third quarter. Boys Arnold & Co. Inc. now owns 7,612 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 1,178 shares during the period. Finally, Sterling Investment Management Inc. grew its holdings in Citigroup by 35.3% in the third quarter. Sterling Investment Management Inc. now owns 16,008 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 4,180 shares during the period. Institutional investors own 76.69% of the company’s stock.
A number of equities research analysts have commented on the stock. Bank of America cut shares of Citigroup to a “hold” rating in a report on Friday, July 26th. Barclays raised their price objective on shares of Citigroup from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. UBS Group raised their price objective on shares of Citigroup from $87.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. BMO Capital Markets lowered shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. Finally, Vining Sparks raised shares of Citigroup to a “buy” rating and set a $80.00 price objective on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $79.75.
Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.95 by $0.12. The business had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.54 billion. Citigroup had a net margin of 18.28% and a return on equity of 10.16%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Analysts forecast that Citigroup Inc will post 7.55 earnings per share for the current year.
The firm also recently announced 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 is Friday, November 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.81%. Citigroup’s payout ratio is 30.68%.
In other news, insider Michael Whitaker sold 7,500 shares of Citigroup stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the transaction, the insider now owns 93,848 shares in the company, valued at $5,821,391.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
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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