PDS Planning Inc Reduces Stock Position in Citigroup Inc. (NYSE:C)

PDS Planning Inc reduced its position in Citigroup Inc. (NYSE:C) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,717 shares of the company’s stock after selling 290 shares during the period. PDS Planning Inc’s holdings in Citigroup were worth $358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Swedbank AB purchased a new position in Citigroup during the 1st quarter valued at about $253,286,000. Acadian Asset Management LLC raised its position in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after acquiring an additional 2,100,135 shares during the last quarter. Caxton Associates LP lifted its holdings in shares of Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Citigroup by 1,749.2% during the 1st quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock worth $82,985,000 after purchasing an additional 1,243,249 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

C stock opened at $62.35 on Tuesday. The company has a market cap of $118.95 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The stock has a 50-day moving average price of $61.98 and a two-hundred day moving average price of $62.19. Citigroup Inc. has a 12-month low of $41.28 and a 12-month high of $67.81.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. As a group, research analysts predict that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.59%. Citigroup’s payout ratio is 64.93%.

Analyst Ratings Changes

C has been the topic of a number of recent research reports. Piper Sandler upped their target price on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Bank of America increased their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Argus boosted their target price on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Morgan Stanley decreased their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.