Oppenheimer & Co. Inc. Trims Holdings in Citigroup Inc. (NYSE:C)

Oppenheimer & Co. Inc. reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 326,814 shares of the company’s stock after selling 41,979 shares during the period. Oppenheimer & Co. Inc.’s holdings in Citigroup were worth $20,459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. POM Investment Strategies LLC purchased a new position in shares of Citigroup during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup during the 3rd quarter valued at approximately $28,000. Beacon Capital Management LLC raised its position in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Citigroup during the 2nd quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Citigroup during the 2nd quarter valued at approximately $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on C shares. The Goldman Sachs Group dropped their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Barclays upped their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. 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. Bank of America upped their price target on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI upped their price target 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $72.06.

Citigroup Stock Performance

Shares of C traded up $0.12 during trading hours on Wednesday, reaching $69.14. 1,154,023 shares of the company’s stock traded hands, compared to its average volume of 14,408,469. The firm has a market capitalization of $130.76 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 0.78 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a twelve month low of $43.10 and a twelve month high of $70.20. The business’s fifty day simple moving average is $62.71 and its two-hundred day simple moving average is $62.46.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.24%. Citigroup’s dividend payout ratio is currently 64.93%.

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.