Oppenheimer Asset Management Inc. Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

Oppenheimer Asset Management Inc. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,301,398 shares of the company’s stock after selling 183,060 shares during the period. Citigroup comprises 1.0% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. Oppenheimer Asset Management Inc. owned about 0.07% of Citigroup worth $81,468,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. POM Investment Strategies LLC acquired a new stake in Citigroup in the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup during the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC boosted its stake 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 acquiring an additional 212 shares in 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 position in Citigroup during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C traded up $0.12 during mid-day trading on Wednesday, reaching $69.14. 1,154,023 shares of the stock were exchanged, compared to its average volume of 14,408,469. Citigroup Inc. has a 1-year low of $43.10 and a 1-year high of $70.20. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $130.76 billion, a PE ratio of 20.01, a PEG ratio of 0.78 and a beta of 1.44. The business has a fifty day moving average price of $62.71 and a 200 day moving average price of $62.46.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating 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 net margin of 4.70% and a return on equity of 6.19%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 earnings per share. Research analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio is 64.93%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Bank of America upped their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer upped their target price on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Barclays raised their price target on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $72.06.

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.