Cambridge Investment Research Advisors Inc. decreased its position in shares of Citigroup (NYSE:C) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,108 shares of the financial services provider’s stock after selling 2,452 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Citigroup were worth $6,352,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. AT Bancorp grew its stake in Citigroup by 28.6% in the 1st quarter. AT Bancorp now owns 55,940 shares of the financial services provider’s stock valued at $3,775,000 after acquiring an additional 12,445 shares during the period. PICTET BANK & TRUST Ltd grew its stake in Citigroup by 4.5% in the 1st quarter. PICTET BANK & TRUST Ltd now owns 32,359 shares of the financial services provider’s stock valued at $2,184,000 after acquiring an additional 1,400 shares during the period. Swedbank grew its stake in Citigroup by 8.9% in the 1st quarter. Swedbank now owns 2,202,808 shares of the financial services provider’s stock valued at $148,690,000 after acquiring an additional 179,772 shares during the period. Korea Investment CORP grew its stake in Citigroup by 1.8% in the 1st quarter. Korea Investment CORP now owns 2,343,829 shares of the financial services provider’s stock valued at $158,208,000 after acquiring an additional 41,210 shares during the period. Finally, EULAV Asset Management grew its stake in Citigroup by 21.1% in the 1st quarter. EULAV Asset Management now owns 115,000 shares of the financial services provider’s stock valued at $7,762,000 after acquiring an additional 20,000 shares during the period. 76.78% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on C. Daiwa Capital Markets cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price target on the stock. in a research note on Thursday, May 17th. ValuEngine cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Morgan Stanley dropped their price target on shares of Citigroup from $93.00 to $88.00 and set an “overweight” rating on the stock in a research note on Monday, April 30th. Vining Sparks reissued a “buy” rating and issued a $82.00 price target on shares of Citigroup in a research note on Monday, April 16th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $76.00 price target on shares of Citigroup in a research note on Friday, April 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $80.79.
In other news, CFO John C. Gerspach sold 12,966 shares of Citigroup stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $72.31, for a total transaction of $937,571.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.11% of the stock is owned by insiders.
NYSE C opened at $69.31 on Friday. Citigroup has a 52 week low of $59.87 and a 52 week high of $80.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $182.68 billion, a PE ratio of 13.00, a P/E/G ratio of 1.03 and a beta of 1.55.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.61 by $0.07. Citigroup had a positive return on equity of 8.13% and a negative net margin of 6.28%. The business had revenue of $18.87 billion for the quarter, compared to analyst estimates of $18.89 billion. During the same quarter in the previous year, the firm earned $1.35 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. sell-side analysts expect that Citigroup will post 6.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Monday, May 7th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.28 annualized dividend and a dividend yield of 1.85%. Citigroup’s dividend payout ratio is presently 24.02%.
Citigroup Company Profile
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.
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