New Century Financial Group LLC Cuts Stock Holdings in Citigroup Inc. (NYSE:C)

New Century Financial Group LLC trimmed its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 67.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,270 shares of the company's stock after selling 21,443 shares during the period. New Century Financial Group LLC's holdings in Citigroup were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after buying an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock valued at $2,714,359,000 after acquiring an additional 815,003 shares during the period. FMR LLC lifted its position in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Citigroup by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors boosted its holdings in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI decreased their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Bank of America decreased their price target on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, TD Cowen assumed coverage on shares of Citigroup in a research note on Thursday, May 15th. They set a "hold" rating and a $83.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $84.30.

Citigroup Price Performance

Citigroup stock traded down $0.70 during mid-day trading on Tuesday, hitting $77.37. 8,063,029 shares of the company traded hands, compared to its average volume of 14,500,353. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The stock has a market cap of $144.51 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. The stock has a fifty day moving average price of $71.66 and a 200-day moving average price of $73.13.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The firm had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. On average, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.90%. Citigroup's payout ratio is 35.39%.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company's stock.

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.