Prospector Partners LLC Lowers Position in Citigroup Inc. (NYSE:C)

Prospector Partners LLC decreased its stake in Citigroup Inc. (NYSE:C) by 6.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 246,635 shares of the company’s stock after selling 17,630 shares during the period. Citigroup comprises approximately 1.6% of Prospector Partners LLC’s holdings, making the stock its 24th biggest position. Prospector Partners LLC’s holdings in Citigroup were worth $15,439,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in C. POM Investment Strategies LLC purchased a new stake in Citigroup in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the third quarter worth about $28,000. Beacon Capital Management LLC boosted its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup during the 2nd quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup in the 2nd quarter worth approximately $32,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Oppenheimer upped their price objective on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley decreased 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. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Trading Up 1.3 %

Shares of C opened at $70.73 on Tuesday. The firm has a market capitalization of $133.77 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 0.78 and a beta of 1.44. 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 company has a 50-day moving average of $64.56 and a 200 day moving average of $62.90.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating 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 firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, research analysts expect 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. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 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.