Parnassus Investments LLC Trims Holdings in Citigroup Inc. (NYSE:C)

Parnassus Investments LLC lowered its position in Citigroup Inc. (NYSE:C) by 10.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,725,687 shares of the company’s stock after selling 196,400 shares during the period. Parnassus Investments LLC’s holdings in Citigroup were worth $108,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of C. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Citigroup in the 3rd quarter valued at $7,287,000. Banque Cantonale Vaudoise lifted its position in Citigroup by 12.8% during the third quarter. Banque Cantonale Vaudoise now owns 113,494 shares of the company’s stock valued at $7,104,000 after purchasing an additional 12,910 shares during the period. OneAscent Financial Services LLC purchased a new stake in Citigroup in the third quarter valued at $252,000. Caprock Group LLC grew its position in Citigroup by 2.5% during the 3rd quarter. Caprock Group LLC now owns 63,162 shares of the company’s stock worth $3,954,000 after purchasing an additional 1,517 shares during the period. Finally, Pathstone Holdings LLC raised its stake in shares of Citigroup by 2.8% during the 3rd quarter. Pathstone Holdings LLC now owns 149,742 shares of the company’s stock valued at $9,374,000 after buying an additional 4,051 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on C. Bank of America boosted their price target on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI increased their price target on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Oppenheimer lifted their price objective on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Barclays raised their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research 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 given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Stock Up 0.4 %

NYSE C opened at $69.01 on Tuesday. Citigroup Inc. has a one year low of $44.56 and a one year 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 business has a fifty day moving average price of $63.40 and a 200 day moving average price of $62.66. The company has a market cap of $130.52 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.77 and a beta of 1.44.

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is currently 64.93%.

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.