Hartford Investment Management Co. Sells 1,932 Shares of Citigroup Inc. (NYSE:C)

Hartford Investment Management Co. lessened its holdings in Citigroup Inc. (NYSE:C) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 120,078 shares of the company’s stock after selling 1,932 shares during the period. Hartford Investment Management Co.’s holdings in Citigroup were worth $7,517,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Greenleaf Trust grew its position in Citigroup by 0.9% in the third quarter. Greenleaf Trust now owns 21,921 shares of the company’s stock worth $1,372,000 after acquiring an additional 205 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Citigroup by 22.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 16,473 shares of the company’s stock valued at $1,032,000 after purchasing an additional 3,072 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Citigroup in the 3rd quarter worth approximately $2,232,000. Eastern Bank bought a new position in shares of Citigroup during the 3rd quarter valued at approximately $87,000. Finally, Sequoia Financial Advisors LLC lifted its position in Citigroup by 25.2% in the third quarter. Sequoia Financial Advisors LLC now owns 206,446 shares of the company’s stock worth $12,924,000 after buying an additional 41,569 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley dropped their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Piper Sandler lifted their target price on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Evercore ISI raised their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Price Performance

Shares of C stock traded down $0.15 on Wednesday, reaching $63.41. 376,078 shares of the company were exchanged, compared to its average volume of 14,371,190. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50-day moving average price of $61.43 and a 200 day moving average price of $61.92. The company has a market cap of $120.95 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 EPS. Equities research analysts forecast that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

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.