Castleark Management LLC Reduces Holdings in Citigroup Inc. (NYSE:C)

Castleark Management LLC cut its position in Citigroup Inc. (NYSE:C) by 97.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,844 shares of the company’s stock after selling 150,570 shares during the quarter. Castleark Management LLC’s holdings in Citigroup were worth $241,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new stake in Citigroup during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the third quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup in the second quarter worth $31,000. Triad Wealth Partners LLC acquired a new stake in Citigroup in the second quarter valued at $32,000. Finally, Strategic Financial Concepts LLC boosted its stake in Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock valued at $33,000 after acquiring an additional 48,484 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on C shares. Barclays upped 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. Evercore ISI increased their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Bank of America boosted their price target on Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group upped their price target on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.63.

Citigroup Stock Performance

C opened at $72.15 on Friday. 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 business’s 50 day moving average is $66.31 and its 200-day moving average is $63.37. The stock has a market cap of $136.46 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. Citigroup Inc. has a twelve month low of $47.71 and a twelve month high of $72.85.

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

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is currently 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.