Peapack Gladstone Financial Corp Trims Stake in Citigroup Inc. (NYSE:C)

Peapack Gladstone Financial Corp lowered its position in Citigroup Inc. (NYSE:C) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,205 shares of the company’s stock after selling 3,776 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Citigroup were worth $3,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after acquiring an additional 791,758 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after purchasing an additional 250,716 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Citigroup by 3.2% during 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 last quarter. Legal & General Group Plc raised its position in Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after purchasing an additional 913,231 shares during the period. Finally, Greenhaven Associates Inc. lifted its stake in Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on C. Bank of America lifted their price objective on Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group lifted their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $82.00 in a research note on Tuesday, December 3rd. Morgan Stanley decreased their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Oppenheimer increased their price target on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $75.63.

Citigroup Price Performance

Shares of NYSE:C opened at $71.01 on Friday. The business has a 50-day simple moving average of $67.28 and a two-hundred day simple moving average of $63.66. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $134.30 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. Citigroup Inc. has a fifty-two week low of $49.17 and a fifty-two week high of $73.38.

Citigroup (NYSE:C) last issued 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. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. Citigroup’s revenue was up .9% compared to the same quarter last year. On average, analysts expect that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

Citigroup Company 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.