Peapack Gladstone Financial Corp Sells 3,776 Shares of Citigroup Inc. (NYSE:C)

Peapack Gladstone Financial Corp reduced its position in Citigroup Inc. (NYSE:C) by 6.4% in the third quarter, HoldingsChannel.com reports. The firm owned 55,205 shares of the company’s stock after selling 3,776 shares during the period. Peapack Gladstone Financial Corp’s holdings in Citigroup were worth $3,457,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. POM Investment Strategies LLC purchased a new stake in Citigroup during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the third quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup during the second quarter valued at $31,000. Legacy Investment Solutions LLC bought a new stake in Citigroup in the 3rd quarter valued at $31,000. Finally, Strategic Financial Concepts LLC lifted its stake in Citigroup by 1,139.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after purchasing an additional 48,484 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on C. Piper Sandler raised their price target on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays upped their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their price objective on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and upped their target price for the company from $70.00 to $82.00 in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.63.

Citigroup Trading Down 0.6 %

Shares of NYSE C opened at $71.01 on Friday. Citigroup Inc. has a twelve month low of $49.17 and a twelve month high of $73.38. The firm has a market cap of $134.30 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The business has a fifty day simple moving average of $67.28 and a two-hundred day simple moving average of $63.66. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last released its quarterly earnings data 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 return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the company posted $1.52 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.15%. Citigroup’s dividend payout ratio is presently 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.