Desjardins Global Asset Management Inc. Sells 11,816 Shares of Citigroup Inc. (NYSE:C)

Desjardins Global Asset Management Inc. lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,934 shares of the company’s stock after selling 11,816 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Citigroup were worth $3,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Snider Financial Group raised its holdings in Citigroup by 96,645.9% in the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock worth $4,512,000 after acquiring an additional 84,407,589 shares during the period. Geode Capital Management LLC increased its holdings in shares of Citigroup by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock worth $1,646,775,000 after purchasing an additional 519,202 shares during the period. Morgan Stanley increased its holdings in shares of Citigroup by 2.6% during the 4th quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock worth $1,169,317,000 after purchasing an additional 666,560 shares during the period. Northern Trust Corp increased its holdings in shares of Citigroup by 1.2% during the 3rd quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock worth $824,710,000 after purchasing an additional 232,652 shares during the period. Finally, Pzena Investment Management LLC increased its holdings in shares of Citigroup by 3.0% during the 3rd quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock worth $683,886,000 after purchasing an additional 486,952 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C stock traded down $1.48 during trading hours on Tuesday, reaching $57.08. 15,341,362 shares of the company were exchanged, compared to its average volume of 17,224,064. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The stock’s fifty day moving average is $57.99 and its two-hundred day moving average is $50.81. The company has a market cap of $109.32 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 0.93 and a beta of 1.52. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same period in the prior year, the business earned $1.86 earnings per share. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that Citigroup Inc. will post 5.73 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is 62.72%.

Analysts Set New Price Targets

Several research firms have recently issued reports on C. Oppenheimer dropped their price objective on shares of Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Monday. Daiwa Capital Markets upgraded shares of Citigroup from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, December 18th. Societe Generale lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Barclays lifted their target price on shares of Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.91.

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.