Gabelli Funds LLC Sells 40,625 Shares of Citigroup Inc. (NYSE:C)

Gabelli Funds LLC lowered its position in shares of Citigroup Inc. (NYSE:C) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 340,605 shares of the company’s stock after selling 40,625 shares during the period. Gabelli Funds LLC’s holdings in Citigroup were worth $21,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC increased its position in Citigroup by 25.2% during the second quarter. Fidelis Capital Partners LLC now owns 22,780 shares of the company’s stock worth $1,446,000 after acquiring an additional 4,588 shares during the period. Epoch Investment Partners Inc. increased its holdings in shares of Citigroup by 14.9% during the second quarter. Epoch Investment Partners Inc. now owns 3,913 shares of the company’s stock worth $248,000 after purchasing an additional 506 shares during the period. Frank Rimerman Advisors LLC increased its holdings in shares of Citigroup by 2,621.3% during the second quarter. Frank Rimerman Advisors LLC now owns 12,382 shares of the company’s stock worth $786,000 after purchasing an additional 11,927 shares during the period. Prospector Partners LLC raised its position in shares of Citigroup by 0.8% in the second quarter. Prospector Partners LLC now owns 264,265 shares of the company’s stock valued at $16,770,000 after buying an additional 2,110 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Citigroup by 5.1% in the second quarter. ProShare Advisors LLC now owns 387,318 shares of the company’s stock valued at $24,579,000 after buying an additional 18,669 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Evercore ISI boosted their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Argus upped their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. The Goldman Sachs Group decreased their target price 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. Finally, Oppenheimer upped their price target on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Trading Down 1.4 %

NYSE C opened at $62.14 on Monday. The company has a market cap of $118.53 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The business’s fifty day moving average is $61.30 and its 200 day moving average is $61.50.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.37 earnings per share. As a group, sell-side analysts expect that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.60%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

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.