Gulf International Bank UK Ltd Sells 6,289 Shares of Citigroup Inc. (NYSE:C)

Gulf International Bank UK Ltd trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,990 shares of the company’s stock after selling 6,289 shares during the period. Gulf International Bank UK Ltd’s holdings in Citigroup were worth $9,639,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its position in shares of Citigroup by 13.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after acquiring an additional 8,593 shares during the period. Lazard Asset Management LLC increased its position in Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after buying an additional 23,774 shares during the last quarter. BDF Gestion bought a new stake in Citigroup in the second quarter valued at approximately $3,861,000. Advisory Services Network LLC lifted its position in shares of Citigroup by 23.8% in the first quarter. Advisory Services Network LLC now owns 66,509 shares of the company’s stock valued at $4,206,000 after buying an additional 12,795 shares during the last quarter. Finally, Chesley Taft & Associates LLC bought a new position in shares of Citigroup during the 2nd quarter worth approximately $735,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 1.3 %

Citigroup stock opened at $62.35 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96. The stock has a market cap of $118.95 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $41.28 and a fifty-two week high of $67.81. The firm’s 50-day simple moving average is $61.98 and its 200 day simple moving average is $62.19.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion for 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 posted $1.52 earnings per share. Research analysts predict that Citigroup Inc. will post 5.87 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.59%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Analyst Upgrades and Downgrades

C has been the subject of a number of research reports. Argus raised their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI boosted their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Oppenheimer decreased their target price on Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Piper Sandler raised their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

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.