Orion Portfolio Solutions LLC Trims Position in Citigroup Inc. (NYSE:C)

Orion Portfolio Solutions LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 4.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 102,821 shares of the company’s stock after selling 5,174 shares during the period. Orion Portfolio Solutions LLC’s holdings in Citigroup were worth $6,437,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MONECO Advisors LLC increased its holdings in Citigroup by 2.9% during the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after acquiring an additional 157 shares during the period. Lifestyle Asset Management Inc. grew its position in shares of Citigroup by 4.5% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares in the last quarter. Legacy Capital Group California Inc. grew its position in shares of Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after purchasing an additional 169 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the period. Finally, MWA Asset Management raised its position in shares of Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after buying an additional 173 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.1 %

Shares of Citigroup stock opened at $72.15 on Monday. The company’s 50 day moving average price is $66.31 and its 200-day moving average price is $63.36. Citigroup Inc. has a 52-week low of $47.71 and a 52-week high of $72.85. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $136.46 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 0.80 and a beta of 1.45.

Citigroup (NYSE:C) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.52 earnings per share. Equities research analysts forecast that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

Analyst Ratings Changes

Several equities analysts recently commented on C shares. Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. 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 note on Friday. Piper Sandler lifted their target price on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer increased their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.63.

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.