New York State Common Retirement Fund Sells 211 Shares of Citigroup Inc. (NYSE:C)

by · The Markets Daily

New York State Common Retirement Fund reduced its position in Citigroup Inc. (NYSE:C – Free Report) by 0.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,698,833 shares of the company’s stock after selling 211 shares during the quarter. New York State Common Retirement Fund owned 0.19% of Citigroup worth $231,547,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new position in shares of Citigroup in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in Citigroup in the third quarter valued at about $28,000. Beacon Capital Management LLC raised its holdings in Citigroup by 85.5% in the first 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 purchased a new stake in shares of Citigroup during the second quarter valued at about $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at about $32,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of NYSE:C traded up $0.42 during midday trading on Friday, reaching $64.59. 780,197 shares of the company’s stock traded hands, compared to its average volume of 14,272,965. The company has a fifty day simple moving average of $61.94 and a two-hundred day simple moving average of $62.06. Citigroup Inc. has a 1 year low of $39.93 and a 1 year high of $67.81. The company has a market cap of $123.22 billion, a P/E ratio of 18.60, a PEG ratio of 0.72 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96.

Citigroup (NYSE:C – Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during 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%. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 EPS. Equities analysts predict that Citigroup Inc. will post 5.87 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s payout ratio is currently 64.93%.

Wall Street Analyst Weigh In

Several analysts have recently commented on C shares. Oppenheimer decreased their price objective on Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. 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 note on Wednesday, September 11th. Bank of America increased their price objective on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley dropped 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $71.06.

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About Citigroup

(Free Report)

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.

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