Asset Allocation Strategies LLC Sells 180 Shares of Citigroup Inc. (NYSE:C)

Asset Allocation Strategies LLC lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,916 shares of the company’s stock after selling 180 shares during the quarter. Asset Allocation Strategies LLC’s holdings in Citigroup were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of C. Envestnet Portfolio Solutions Inc. grew its stake in Citigroup by 13.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after purchasing an additional 8,593 shares in the last quarter. KBC Group NV grew its position in shares of Citigroup by 1.8% during the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after buying an additional 20,291 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Citigroup by 4.9% during the third quarter. Crossmark Global Holdings Inc. now owns 394,738 shares of the company’s stock valued at $24,710,000 after buying an additional 18,278 shares during the period. HighTower Advisors LLC raised its holdings in shares of Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares in the last quarter. Finally, Summit Global Investments lifted its stake in Citigroup by 289.5% in the third quarter. Summit Global Investments now owns 30,640 shares of the company’s stock worth $1,918,000 after acquiring an additional 22,774 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.9 %

NYSE C opened at $72.52 on Wednesday. The stock has a market cap of $137.15 billion, a P/E ratio of 21.02, a P/E/G ratio of 0.81 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12-month low of $47.71 and a 12-month high of $73.38. The company has a fifty day simple moving average of $66.71 and a two-hundred day simple moving average of $63.48.

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. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.09%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Bank of America increased their target price on Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Piper Sandler boosted their price target on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI raised their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $75.63.

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.