Oldfield Partners LLP Cuts Stock Position in Citigroup Inc. (NYSE:C)

Oldfield Partners LLP lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 14.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,173,374 shares of the company’s stock after selling 352,400 shares during the period. Citigroup comprises approximately 15.5% of Oldfield Partners LLP’s investment portfolio, making the stock its 3rd biggest position. Oldfield Partners LLP’s holdings in Citigroup were worth $100,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC bought a new position in Citigroup during the first quarter valued at approximately $28,000. Grey Fox Wealth Advisors LLC acquired a new position in Citigroup during the fourth quarter valued at approximately $33,000. Heritage Wealth Management LLC grew its holdings in Citigroup by 140.1% during the fourth quarter. Heritage Wealth Management LLC now owns 862 shares of the company’s stock valued at $39,000 after purchasing an additional 503 shares during the last quarter. Arlington Partners LLC grew its holdings in Citigroup by 81.5% during the first quarter. Arlington Partners LLC now owns 991 shares of the company’s stock valued at $46,000 after purchasing an additional 445 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in Citigroup by 83.7% during the first quarter. Financial Management Professionals Inc. now owns 1,001 shares of the company’s stock valued at $47,000 after purchasing an additional 456 shares during the last quarter. Institutional investors own 69.26% of the company’s stock.

Citigroup Price Performance

Shares of NYSE C traded down $0.04 during midday trading on Tuesday, reaching $42.60. 2,651,050 shares of the company traded hands, compared to its average volume of 17,375,127. The firm has a market cap of $82.93 billion, a PE ratio of 6.76, a PEG ratio of 1.68 and a beta of 1.57. The stock’s 50-day simple moving average is $44.09 and its 200-day simple moving average is $45.79. Citigroup Inc. has a 12 month low of $40.01 and a 12 month high of $53.23. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $19.34 billion. Citigroup had a return on equity of 6.80% and a net margin of 10.24%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $2.30 earnings per share. As a group, equities analysts anticipate that Citigroup Inc. will post 5.73 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were issued a dividend of $0.53 per share. The ex-dividend date was Friday, August 4th. This is a boost from Citigroup’s previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.98%. Citigroup’s dividend payout ratio (DPR) is presently 33.60%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Odeon Capital Group upgraded Citigroup from a “hold” rating to a “buy” rating and set a $50.51 price target on the stock in a report on Tuesday, July 18th. StockNews.com began coverage on shares of Citigroup in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their price objective on shares of Citigroup from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Morgan Stanley restated an “underweight” rating and issued a $45.00 price objective on shares of Citigroup in a research note on Tuesday, July 18th. Finally, Credit Suisse Group lowered their price objective on shares of Citigroup from $54.00 to $50.00 in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup has an average rating of “Hold” and an average price target of $53.00.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.