Citigroup Inc. (NYSE:C) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 81.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,264 shares of the company’s stock after selling 22,862 shares during the quarter. Kovack Advisors Inc.’s holdings in Citigroup were worth $330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 buying an additional 250,716 shares in the last quarter. Legal & General Group Plc lifted its holdings 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 valued at $1,105,999,000 after buying an additional 913,231 shares during the period. Greenhaven Associates Inc. lifted its holdings 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 valued at $1,056,900,000 after buying an additional 242,545 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 168,070 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on C shares. Morgan Stanley cut their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Bank of America increased their target price on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Evercore ISI lifted their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Stock Performance

Shares of C opened at $68.76 on Friday. Citigroup Inc. has a 52 week low of $44.32 and a 52 week high of $70.20. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $130.04 billion, a PE ratio of 19.93, a PEG ratio of 0.77 and a beta of 1.44. The company’s 50 day moving average price is $63.21 and its 200 day moving average price is $62.59.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. Research analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.26%. Citigroup’s dividend payout ratio is currently 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.