R Squared Ltd Sells 7,548 Shares of Citigroup Inc. $C

R Squared Ltd lowered its stake in shares of Citigroup Inc. (NYSE:C) by 39.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,363 shares of the company’s stock after selling 7,548 shares during the period. Citigroup comprises 0.8% of R Squared Ltd’s investment portfolio, making the stock its 12th biggest position. R Squared Ltd’s holdings in Citigroup were worth $1,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of C. Paladin Partners LLC purchased a new position in Citigroup in the 2nd quarter valued at about $27,000. Bfsg LLC boosted its holdings in Citigroup by 130.7% in the 3rd quarter. Bfsg LLC now owns 203 shares of the company’s stock worth $26,000 after buying an additional 115 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Citigroup in the 2nd quarter worth about $29,000. Balance Wealth Partners LLC purchased a new stake in Citigroup during the 3rd quarter worth approximately $27,000. Finally, Center for Financial Planning Inc. increased its stake in Citigroup by 78.7% during the 3rd quarter. Center for Financial Planning Inc. now owns 243 shares of the company’s stock worth $31,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C opened at $124.09 on Friday. The firm has a market capitalization of $211.65 billion, a PE ratio of 12.11, a PEG ratio of 0.55 and a beta of 1.18. Citigroup Inc. has a twelve month low of $95.83 and a twelve month high of $147.96. The firm’s 50-day moving average price is $128.15 and its 200 day moving average price is $126.77. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.78.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.19. The company had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. Citigroup’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 EPS. As a group, sell-side analysts expect that Citigroup Inc. will post 11.44 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, November 2nd. Citigroup’s payout ratio is currently 26.15%.

Analyst Ratings Changes

C has been the subject of a number of research analyst reports. UBS Group set a $148.00 target price on Citigroup in a report on Wednesday, October 14th. HSBC began coverage on Citigroup in a research note on Monday, September 28th. They issued a “buy” rating and a $164.00 price target on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Citigroup in a research report on Wednesday, October 14th. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Finally, Evercore set a $135.00 price objective on Citigroup in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $150.87.

Citigroup News Roundup

Investors following C have been watching these news items:

• Positive Sentiment: Analyst commentary points to Citi trading at a discount to the industry, with an improving earnings outlook and ongoing business transformation—factors that could support the investment case, though the article does not identify a new company announcement. C Trades at a Discount to Industry: Right Time to Buy the Stock?
• Neutral Sentiment: Citi will redeem $1 billion of its 4.15% Series Y preferred stock, ending dividend accrual on November 15. The move simplifies its capital structure, but the report does not establish a material effect on common-share earnings or capital. Citigroup (C) Redeems Preferred Stock
• Neutral Sentiment: A post-earnings update says shares were up 1.6% since Citi’s latest report and points investors to earnings estimates for clues about future performance; it offers no fresh results or guidance. Citigroup (C) Up 1.6% Since Last Earnings Report: Can It Continue?

About Citigroup

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.