Dai ichi Life Insurance Company Ltd Trims Stock Holdings in Citigroup Inc. (NYSE:C)

Dai ichi Life Insurance Company Ltd lowered its stake in shares of Citigroup Inc. (NYSE:C) by 27.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 129,455 shares of the company’s stock after selling 48,750 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Citigroup were worth $8,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Citigroup by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after purchasing an additional 250,716 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after purchasing an additional 911,694 shares during the period. Legal & General Group Plc raised its position in shares of Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after buying an additional 913,231 shares in the last quarter. Greenhaven Associates Inc. raised its position in shares of Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after buying an additional 242,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Citigroup by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock worth $590,106,000 after buying an additional 168,070 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley lowered their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer increased their target price on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Barclays lifted their price target on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, 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 report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Price Performance

C stock opened at $70.73 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1 year low of $44.56 and a 1 year high of $71.19. The firm has a 50-day moving average of $64.56 and a 200 day moving average of $62.90. The company has a market cap of $133.77 billion, a P/E ratio of 20.50, a PEG ratio of 0.78 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter last year, the business posted $1.52 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

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.