Daiwa Securities Group Inc. Decreases Stock Holdings in Citigroup Inc. (NYSE:C)

Daiwa Securities Group Inc. reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 235,108 shares of the company’s stock after selling 14,488 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Citigroup were worth $14,718,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of Citigroup by 13.3% during 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. Lazard Asset Management LLC lifted its position in shares of Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after purchasing an additional 23,774 shares in the last quarter. BDF Gestion acquired a new position in shares of Citigroup during the second quarter worth $3,861,000. KBC Group NV lifted its position in shares of Citigroup by 1.8% during the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after purchasing an additional 20,291 shares in the last quarter. Finally, Summit Global Investments lifted its position in shares of Citigroup by 289.5% during the third quarter. Summit Global Investments now owns 30,640 shares of the company’s stock worth $1,918,000 after purchasing an additional 22,774 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $69.84 on Monday. The firm has a 50-day moving average price of $64.32 and a 200 day moving average price of $62.85. The firm has a market capitalization of $132.09 billion, a PE ratio of 20.24, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 52-week low of $44.56 and a 52-week high of $70.20.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.21%. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Analyst Ratings Changes

A number of research analysts have recently commented on C shares. Morgan Stanley reduced their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Barclays upped their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Bank of America upped their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upped 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 given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.