ArrowMark Colorado Holdings LLC Cuts Holdings in Citigroup Inc. (NYSE:C)

ArrowMark Colorado Holdings LLC reduced its position in Citigroup Inc. (NYSE:C) by 0.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 94,475 shares of the company’s stock after selling 215 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Citigroup were worth $5,914,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America boosted their price target on Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. Evercore ISI increased their price target on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Barclays upped their price objective on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

Citigroup Stock Performance

NYSE:C opened at $71.39 on Tuesday. The company has a fifty day moving average of $65.30 and a two-hundred day moving average of $63.08. Citigroup Inc. has a fifty-two week low of $46.40 and a fifty-two week high of $71.64. The stock has a market capitalization of $135.02 billion, a PE ratio of 20.69, a P/E/G ratio of 0.79 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

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

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

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.