Cornercap Investment Counsel Inc. Sells 19,483 Shares of Citigroup Inc. (NYSE:C)

Cornercap Investment Counsel Inc. trimmed its holdings in Citigroup Inc. (NYSE:C) by 37.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,875 shares of the company’s stock after selling 19,483 shares during the quarter. Citigroup accounts for about 0.6% of Cornercap Investment Counsel Inc.’s portfolio, making the stock its 10th biggest holding. Cornercap Investment Counsel Inc.’s holdings in Citigroup were worth $2,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. POM Investment Strategies LLC acquired a new position in Citigroup in the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Citigroup during the third quarter worth $28,000. Beacon Capital Management LLC raised its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Citigroup in the second quarter valued at $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Citigroup in the second quarter valued at $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Down 1.1 %

Shares of C stock opened at $68.13 on Friday. Citigroup Inc. has a 12-month low of $44.32 and a 12-month high of $70.20. 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 50-day moving average price of $63.02 and a two-hundred day moving average price of $62.54. The firm has a market cap of $128.85 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

Citigroup (NYSE:C) last posted its 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. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.29%. Citigroup’s dividend payout ratio is 64.93%.

Analyst Ratings Changes

A number of analysts recently commented on C shares. Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley cut their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group cut their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Barclays boosted their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer boosted their price target on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Citigroup 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.