First Republic Investment Management Inc. cut its holdings in shares of Citigroup Inc (NYSE:C) by 65.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 438,820 shares of the financial services provider’s stock after selling 834,974 shares during the period. First Republic Investment Management Inc.’s holdings in Citigroup were worth $31,481,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Northeast Financial Consultants Inc bought a new stake in Citigroup during the 3rd quarter worth about $545,000. Capital Investment Advisors LLC increased its stake in shares of Citigroup by 1.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 77,287 shares of the financial services provider’s stock worth $5,545,000 after purchasing an additional 939 shares during the last quarter. LSV Asset Management increased its stake in shares of 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 purchasing an additional 352,801 shares during the last quarter. CapWealth Advisors LLC increased its stake in shares of Citigroup by 4.6% during the 2nd quarter. CapWealth Advisors LLC now owns 294,351 shares of the financial services provider’s stock worth $19,698,000 after purchasing an additional 12,868 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Citigroup by 2,117.1% during the 3rd quarter. Victory Capital Management Inc. now owns 861,798 shares of the financial services provider’s stock worth $61,825,000 after purchasing an additional 822,927 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on C. Zacks Investment Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Thursday, November 29th. BMO Capital Markets boosted their price objective on shares of Citigroup to $92.00 and gave the stock a “market perform” rating in a research note on Monday, October 15th. Vining Sparks restated a “buy” rating and set a $77.00 price objective on shares of Citigroup in a research note on Tuesday, October 9th. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Deutsche Bank boosted their price objective on shares of Citigroup from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $82.66.
Shares of C opened at $60.06 on Friday. Citigroup Inc has a 52 week low of $58.36 and a 52 week high of $80.70. The stock has a market capitalization of $160.01 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.82 and a beta of 1.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.32.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.07. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. The business had revenue of $18.39 billion for the quarter, compared to analyst estimates of $18.43 billion. During the same quarter in the prior year, the business earned $1.42 EPS. Equities analysts expect that Citigroup Inc will post 6.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Monday, November 5th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 3.00%. Citigroup’s dividend payout ratio (DPR) is currently 33.77%.
COPYRIGHT VIOLATION WARNING: This news story was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/12/07/first-republic-investment-management-inc-has-31-48-million-holdings-in-citigroup-inc-c.html.
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.
See Also: What is a Swap?
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.