Great West Life Assurance Co. Can Reduces Holdings in Citigroup Inc. (NYSE:C)

Great West Life Assurance Co. Can reduced its position in Citigroup Inc. (NYSE:C) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,140,573 shares of the company’s stock after selling 131,410 shares during the quarter. Great West Life Assurance Co. Can owned about 0.06% of Citigroup worth $52,778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in C. SkyView Investment Advisors LLC acquired a new position in Citigroup during the first quarter worth $28,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of Citigroup by 40.3% in the second quarter. Blue Bell Private Wealth Management LLC now owns 867 shares of the company’s stock valued at $40,000 after purchasing an additional 249 shares during the period. Fiduciary Alliance LLC acquired a new stake in Citigroup during the second quarter worth about $45,000. Tucker Asset Management LLC acquired a new position in Citigroup in the 1st quarter valued at about $47,000. Finally, Bell Investment Advisors Inc grew its stake in shares of Citigroup by 50.1% in the 2nd quarter. Bell Investment Advisors Inc now owns 1,102 shares of the company’s stock valued at $51,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 69.26% of the company’s stock.

Insider Transactions at Citigroup

In other news, insider Andrew John Morton sold 28,096 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $40.66, for a total transaction of $1,142,383.36. Following the completion of the sale, the insider now owns 410,060 shares in the company, valued at approximately $16,673,039.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $45.26 on Tuesday. The company has a market cap of $86.62 billion, a price-to-earnings ratio of 7.17, a price-to-earnings-growth ratio of 2.46 and a beta of 1.55. The company has a fifty day simple moving average of $41.32 and a two-hundred day simple moving average of $43.94. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $53.23. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.45.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, October 13th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.29. Citigroup had a return on equity of 6.76% and a net margin of 9.22%. The business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $19.27 billion. During the same quarter last year, the business posted $1.50 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.68%. Citigroup’s payout ratio is currently 33.60%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Citigroup from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. StockNews.com assumed coverage on Citigroup in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Jefferies Financial Group cut their price objective on Citigroup from $47.00 to $43.00 in a research report on Tuesday, October 10th. Morgan Stanley decreased their target price on shares of Citigroup from $45.00 to $43.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 3rd. Finally, HSBC initiated coverage on shares of Citigroup in a research report on Thursday, September 7th. They set a “hold” rating and a $43.00 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup currently has an average rating of “Hold” and an average target price of $51.28.

Citigroup Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.