Hourglass Capital LLC Has $7.81 Million Position in Citigroup Inc. (NYSE:C)

Hourglass Capital LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 1.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 124,717 shares of the company’s stock after selling 2,095 shares during the quarter. Citigroup comprises approximately 2.2% of Hourglass Capital LLC’s investment portfolio, making the stock its 12th largest holding. Hourglass Capital LLC’s holdings in Citigroup were worth $7,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in C. POM Investment Strategies LLC acquired a new position in Citigroup during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup during the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC increased its holdings in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup during the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup during the 2nd quarter worth approximately $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Down 0.2 %

NYSE:C opened at $68.89 on Thursday. The company has a market cap of $130.29 billion, a P/E ratio of 19.97, a P/E/G ratio of 0.77 and a beta of 1.44. The stock’s fifty day moving average price is $62.87 and its two-hundred day moving average price is $62.51. Citigroup Inc. has a 1 year low of $43.10 and a 1 year high of $70.20. 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 (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter last year, the business posted $1.52 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. As a group, analysts expect that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.25%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on C shares. Morgan Stanley decreased their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Bank of America boosted their price objective on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays upped their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI upped their target price on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, Oppenheimer upped their target price on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. 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 company. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $72.06.

Citigroup Company 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.