Nicola Wealth Management LTD. cut its stake in Citigroup Inc (NYSE:C) by 39.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,065 shares of the financial services provider’s stock after selling 70,133 shares during the period. Citigroup makes up approximately 1.4% of Nicola Wealth Management LTD.’s holdings, making the stock its 20th largest holding. Nicola Wealth Management LTD.’s holdings in Citigroup were worth $8,265,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Deprince Race & Zollo Inc. boosted its holdings in Citigroup by 34.0% in the second quarter. Deprince Race & Zollo Inc. now owns 10,050 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 2,550 shares in the last quarter. World Asset Management Inc raised its stake in shares of Citigroup by 1.2% in the second quarter. World Asset Management Inc now owns 158,365 shares of the financial services provider’s stock worth $10,598,000 after purchasing an additional 1,929 shares during the last quarter. Granite Springs Asset Management LLC raised its stake in shares of Citigroup by 53.7% in the second quarter. Granite Springs Asset Management LLC now owns 6,766 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 2,365 shares during the last quarter. Highland Capital Management LLC raised its stake in shares of Citigroup by 1.8% in the second quarter. Highland Capital Management LLC now owns 257,864 shares of the financial services provider’s stock worth $17,256,000 after purchasing an additional 4,539 shares during the last quarter. Finally, Reilly Financial Advisors LLC raised its stake in shares of Citigroup by 6.8% in the second quarter. Reilly Financial Advisors LLC now owns 146,600 shares of the financial services provider’s stock worth $9,810,000 after purchasing an additional 9,376 shares during the last quarter. 74.88% of the stock is owned by institutional investors.
Citigroup stock opened at $64.60 on Friday. The firm has a market cap of $166.49 billion, a P/E ratio of 12.12, a PEG ratio of 0.85 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.00 and a quick ratio of 1.00. Citigroup Inc has a one year low of $62.34 and a one year high of $80.70.
Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates 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 9.42% and a negative net margin of 4.81%. During the same quarter in the prior year, the business posted $1.42 earnings per share. As a group, research analysts anticipate that Citigroup Inc will post 6.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, November 5th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, November 2nd. Citigroup’s payout ratio is 33.77%.
C has been the subject of several recent analyst reports. TheStreet upgraded Citigroup from a “c” rating to a “b-” rating in a research note on Monday, July 30th. Vining Sparks restated a “buy” rating and issued a $77.00 price target on shares of Citigroup in a research note on Tuesday, October 9th. Deutsche Bank boosted their price target on Citigroup from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Wells Fargo & Co set a $100.00 price target on Citigroup and gave the stock a “buy” rating in a research note on Monday, August 27th. Finally, Zacks Investment Research upgraded Citigroup from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and a consensus target price of $82.91.
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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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