Davis R M Inc. trimmed its stake in Citigroup Inc (NYSE:C) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,357 shares of the financial services provider’s stock after selling 759 shares during the period. Davis R M Inc.’s holdings in Citigroup were worth $241,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Citigroup by 2.1% during the 2nd quarter. FMR LLC now owns 107,588,759 shares of the financial services provider’s stock worth $7,199,839,000 after buying an additional 2,247,392 shares during the last quarter. ValueAct Holdings L.P. grew its stake in Citigroup by 55.4% during the 2nd quarter. ValueAct Holdings L.P. now owns 25,175,500 shares of the financial services provider’s stock worth $1,684,744,000 after buying an additional 8,975,500 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Citigroup by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,802,064 shares of the financial services provider’s stock worth $1,124,412,000 after buying an additional 726,738 shares during the last quarter. LSV Asset Management grew its stake in Citigroup by 2.7% during the 2nd quarter. LSV Asset Management now owns 13,634,855 shares of the financial services provider’s stock worth $912,444,000 after buying an additional 352,801 shares during the last quarter. Finally, Greenhaven Associates Inc. grew its stake in Citigroup by 2.3% during the 2nd quarter. Greenhaven Associates Inc. now owns 12,325,856 shares of the financial services provider’s stock worth $824,846,000 after buying an additional 275,266 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on C. Wolfe Research began coverage on Citigroup in a research note on Tuesday, September 25th. They set an “outperform” rating on the stock. Deutsche Bank boosted their target price on Citigroup from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. ValuEngine upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Wells Fargo & Co set a $100.00 target price on Citigroup and gave the stock a “buy” rating in a research note on Monday, August 27th. Finally, Vining Sparks restated a “buy” rating and set a $77.00 target price on shares of Citigroup in a research note on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $82.91.
In related news, CEO Francisco Aristeguieta sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total value of $1,085,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
Shares of C stock opened at $68.62 on Friday. The stock has a market capitalization of $184.38 billion, a PE ratio of 13.17, a P/E/G ratio of 0.97 and a beta of 1.46. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Citigroup Inc has a 52-week low of $64.38 and a 52-week high of $80.70.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, October 12th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.07. The business had revenue of $18.39 billion during the quarter, compared to analysts’ expectations of $18.43 billion. Citigroup had a positive return on equity of 8.78% and a negative net margin of 5.45%. During the same quarter in the previous year, the firm posted $1.42 EPS. As a group, equities research analysts expect that Citigroup Inc will post 6.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, November 5th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.62%. Citigroup’s payout ratio is 33.77%.
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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