Prospector Partners LLC Sells 17,630 Shares of Citigroup Inc. (NYSE:C)

Prospector Partners LLC trimmed its holdings in Citigroup Inc. (NYSE:C) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,635 shares of the company’s stock after selling 17,630 shares during the period. Citigroup makes up 1.6% of Prospector Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Prospector Partners LLC’s holdings in Citigroup were worth $15,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. increased its position in shares of Citigroup by 6.6% during the third quarter. D.A. Davidson & CO. now owns 56,877 shares of the company’s stock valued at $3,561,000 after buying an additional 3,536 shares during the period. Hancock Whitney Corp grew its stake in Citigroup by 7.4% during the third quarter. Hancock Whitney Corp now owns 5,544 shares of the company’s stock valued at $347,000 after acquiring an additional 382 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Citigroup by 94.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 11,954 shares of the company’s stock worth $748,000 after acquiring an additional 5,816 shares during the period. Independent Advisor Alliance lifted its stake in Citigroup by 1.2% in the 3rd quarter. Independent Advisor Alliance now owns 70,252 shares of the company’s stock worth $4,398,000 after purchasing an additional 851 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Bank of America lifted their target price 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. The Goldman Sachs Group decreased their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Morgan Stanley dropped their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Barclays increased their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. One equities 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’s stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Stock Performance

Shares of C opened at $70.73 on Tuesday. The company has a 50-day simple moving average of $64.56 and a two-hundred day simple moving average of $62.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $133.77 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44. Citigroup Inc. has a one year low of $44.56 and a one year high of $71.19.

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

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.17%. Citigroup’s dividend payout ratio (DPR) is presently 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.