Hollencrest Capital Management Reduces Stock Holdings in Citigroup Inc. (NYSE:C)

Hollencrest Capital Management lowered its position in Citigroup Inc. (NYSE:C) by 10.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,513 shares of the company’s stock after selling 1,200 shares during the quarter. Hollencrest Capital Management’s holdings in Citigroup were worth $658,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the period. Swedbank AB purchased a new position in Citigroup during the first quarter worth about $253,286,000. Acadian Asset Management LLC lifted its position in shares of 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 purchasing an additional 2,100,135 shares in the last quarter. Caxton Associates LP grew 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, Capital World Investors grew its holdings in shares of Citigroup by 26.1% in the first quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock valued at $333,929,000 after purchasing an additional 1,092,980 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Argus lifted their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Piper Sandler lifted their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. BMO Capital Markets lifted their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Oppenheimer lifted their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.06.

Citigroup Price Performance

Shares of NYSE:C traded up $0.88 on Friday, reaching $68.99. 4,728,248 shares of the company were exchanged, compared to its average volume of 14,396,235. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 1-year low of $41.28 and a 1-year high of $70.09. The firm has a market cap of $131.62 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. The company has a 50-day moving average of $62.30 and a 200-day moving average of $62.31.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that Citigroup Inc. will post 5.87 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.25%. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Citigroup Company Profile

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.