MetLife Investment Management LLC Has $31.06 Million Stock Holdings in Citigroup Inc. (NYSE:C)

MetLife Investment Management LLC lowered its stake in Citigroup Inc. (NYSE:C) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 496,238 shares of the company’s stock after selling 12,706 shares during the period. MetLife Investment Management LLC’s holdings in Citigroup were worth $31,064,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Citigroup by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after buying an additional 250,716 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after acquiring an additional 911,694 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after purchasing an additional 913,231 shares in the last quarter. Greenhaven Associates Inc. grew its holdings in shares of Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after purchasing an additional 242,545 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Citigroup by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock worth $590,106,000 after purchasing an additional 168,070 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on C shares. Barclays boosted their target price on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Oppenheimer boosted their price target on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Evercore ISI raised their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Bank of America boosted their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Stock Performance

C stock opened at $69.90 on Wednesday. Citigroup Inc. has a 1-year low of $44.56 and a 1-year high of $71.19. 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 stock has a 50-day moving average price of $64.77 and a 200-day moving average price of $62.94. The firm has a market cap of $132.20 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44.

Citigroup (NYSE:C) last issued 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. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, equities research analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The business 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 3.20%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

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.