MetLife Investment Management LLC Sells 12,706 Shares of Citigroup Inc. (NYSE:C)

MetLife Investment Management LLC reduced its position in Citigroup Inc. (NYSE:C) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 496,238 shares of the company’s stock after selling 12,706 shares during the period. MetLife Investment Management LLC’s holdings in Citigroup were worth $31,064,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. grew its stake in shares of Citigroup by 1,328.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 130,248 shares of the company’s stock worth $8,237,000 after acquiring an additional 121,130 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Citigroup by 19.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 60,511 shares of the company’s stock worth $3,827,000 after purchasing an additional 9,884 shares in the last quarter. Tidal Investments LLC increased its stake in Citigroup by 5.3% in the 1st quarter. Tidal Investments LLC now owns 78,298 shares of the company’s stock valued at $4,946,000 after buying an additional 3,976 shares during the last quarter. Comerica Bank lifted its position in shares of Citigroup by 1.0% during the 1st quarter. Comerica Bank now owns 565,542 shares of the company’s stock worth $35,765,000 after buying an additional 5,627 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its stake in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C opened at $69.90 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12-month low of $44.56 and a 12-month high of $71.19. The company has a market cap of $132.20 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The stock has a 50-day moving average price of $64.77 and a 200-day moving average price of $62.94.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (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 business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.20%. Citigroup’s payout ratio is presently 64.93%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased 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. The Goldman Sachs Group reduced their target price 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. Oppenheimer lifted their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Bank of America upped their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.