Citigroup (C) Stake Lessened by Destination Wealth Management

Destination Wealth Management reduced its stake in shares of Citigroup (NYSE:C) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,776 shares of the financial services provider’s stock after selling 5,507 shares during the quarter. Destination Wealth Management’s holdings in Citigroup were worth $13,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of C. Harris Associates L P boosted its holdings in shares of Citigroup by 0.5% in the second quarter. Harris Associates L P now owns 41,350,951 shares of the financial services provider’s stock valued at $2,765,551,000 after purchasing an additional 221,171 shares during the period. Boston Partners boosted its holdings in shares of Citigroup by 3.4% in the third quarter. Boston Partners now owns 24,591,045 shares of the financial services provider’s stock valued at $1,788,752,000 after purchasing an additional 817,162 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Citigroup by 4.7% in the third quarter. Ameriprise Financial Inc. now owns 24,118,886 shares of the financial services provider’s stock valued at $1,754,343,000 after purchasing an additional 1,091,989 shares during the period. Capital Research Global Investors lifted its holdings in Citigroup by 1.3% during the second quarter. Capital Research Global Investors now owns 17,606,438 shares of the financial services provider’s stock worth $1,177,519,000 after buying an additional 221,934 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Citigroup by 0.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,906,518 shares of the financial services provider’s stock worth $1,109,194,000 after buying an additional 91,093 shares during the period. 80.16% of the stock is currently owned by institutional investors.

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C traded down $1.62 during trading on Friday, reaching $68.60. The company’s stock had a trading volume of 21,543,535 shares, compared to its average volume of 18,811,220. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.01 and a quick ratio of 1.01. Citigroup has a 1 year low of $57.55 and a 1 year high of $80.70. The firm has a market capitalization of $180,470.03, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56.

Citigroup (NYSE:C) last released its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.09. The business had revenue of $17.26 billion for the quarter, compared to analyst estimates of $17.23 billion. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.61%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. equities analysts anticipate that Citigroup will post 6.4 earnings per share for the current fiscal year.

C has been the subject of several analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $74.00 price objective on shares of Citigroup in a report on Thursday. UBS upgraded Citigroup from a “neutral” rating to a “buy” rating and increased their price objective for the company from $78.00 to $80.00 in a report on Thursday. Vining Sparks upgraded Citigroup to a “buy” rating and set a $80.00 price objective for the company in a report on Friday. TheStreet lowered Citigroup from a “b-” rating to a “c+” rating in a report on Tuesday, March 27th. Finally, Jefferies Group reissued a “hold” rating and issued a $83.00 target price on shares of Citigroup in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Citigroup has a consensus rating of “Hold” and an average target price of $80.69.

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About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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