Pitcairn Co. Reduces Holdings in Citigroup Inc. (NYSE:C)

Pitcairn Co. decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 20.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 48,737 shares of the company’s stock after selling 12,359 shares during the period. Pitcairn Co.’s holdings in Citigroup were worth $3,051,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. POM Investment Strategies LLC purchased a new stake in Citigroup in the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the third quarter valued at approximately $28,000. Beacon Capital Management LLC boosted its position in Citigroup by 85.5% in 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 stake in Citigroup in the second quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in Citigroup in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.3 %

Shares of NYSE:C opened at $69.84 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The business has a fifty day moving average of $64.32 and a two-hundred day moving average of $62.84. The stock has a market cap of $132.09 billion, a P/E ratio of 20.24, a PEG ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a 52-week low of $44.56 and a 52-week high of $70.20.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.21%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on C shares. Morgan Stanley decreased their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Evercore ISI boosted their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Oppenheimer boosted their price target on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Barclays boosted their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.