Citigroup Inc. $C Stock Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its holdings in Citigroup Inc. (NYSE:C) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 233,398 shares of the company’s stock after selling 4,260 shares during the quarter. New York Life Investment Management LLC’s holdings in Citigroup were worth $30,220,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Paladin Partners LLC bought a new position in Citigroup during the 2nd quarter valued at about $27,000. Bfsg LLC boosted its holdings in shares of Citigroup by 130.7% during the 3rd quarter. Bfsg LLC now owns 203 shares of the company’s stock valued at $26,000 after acquiring an additional 115 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Citigroup during the 2nd quarter valued at about $29,000. Balance Wealth Partners LLC purchased a new stake in shares of Citigroup during the 3rd quarter valued at about $27,000. Finally, Center for Financial Planning Inc. grew its stake in shares of Citigroup by 78.7% in the third quarter. Center for Financial Planning Inc. now owns 243 shares of the company’s stock worth $31,000 after acquiring an additional 107 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 0.3%

Shares of C stock opened at $122.29 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $208.58 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.54 and a beta of 1.18. Citigroup Inc. has a 1 year low of $95.83 and a 1 year high of $147.96. The firm has a fifty day moving average price of $128.52 and a 200-day moving average price of $126.67.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.19. The company had revenue of $23.84 billion for the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. Citigroup’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. As a group, equities analysts predict that Citigroup Inc. will post 11.44 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 2nd will be given a $0.67 dividend. The ex-dividend date is Monday, November 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. Citigroup’s dividend payout ratio is presently 26.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Loop Capital set a $155.00 price objective on shares of Citigroup in a report on Tuesday, October 13th. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. UBS Group set a $148.00 target price on shares of Citigroup in a report on Wednesday, October 14th. HSBC began coverage on shares of Citigroup in a research report on Monday, September 28th. They issued a “buy” rating and a $164.00 target price for the company. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $150.87.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is among a group of global banks committing about $270 million to fund a U.S.-based stablecoin issuer for its first five years. The venture could give Citi a role in the growing digital-payments market, though its expected returns and Citi’s individual contribution were not disclosed. Article: Goldman, Citi join global banks in $270 million stablecoin venture
• Positive Sentiment: CEO Jane Fraser said a newly approved brokerage license gives Citi an edge over rivals in China, supporting the bank’s growth ambitions in the market. The opportunity may take time to translate into material results and remains subject to local operating conditions. Article: Citigroup’s Fraser Says China License Gives Bank Edge on Rivals
• Neutral Sentiment: Citi announced it will redeem all $1 billion of its Series Y preferred stock. This is a capital-structure action; the report did not describe a change to the bank’s business outlook. Article: Citigroup Announces Full Redemption of Series Y Preferred Stock

Citigroup Profile

Citigroup Inc. is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions. The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.