Gabelli Funds LLC trimmed its stake in Citigroup Inc (NYSE:C) by 4.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 266,285 shares of the financial services provider’s stock after selling 11,100 shares during the period. Gabelli Funds LLC’s holdings in Citigroup were worth $16,568,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its holdings in Citigroup by 5,064.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 40,038,201 shares of the financial services provider’s stock valued at $769,000 after buying an additional 39,262,981 shares during the last quarter. Norges Bank acquired a new stake in Citigroup in the 4th quarter valued at approximately $1,383,526,000. ValueAct Holdings L.P. grew its holdings in Citigroup by 20.2% in the 4th quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock valued at $1,641,218,000 after buying an additional 5,300,000 shares during the last quarter. Lakewood Capital Management LP grew its holdings in Citigroup by 75.1% in the 4th quarter. Lakewood Capital Management LP now owns 6,071,500 shares of the financial services provider’s stock valued at $316,082,000 after buying an additional 2,605,000 shares during the last quarter. Finally, CI Investments Inc. grew its holdings in Citigroup by 113.5% in the 4th quarter. CI Investments Inc. now owns 3,414,800 shares of the financial services provider’s stock valued at $177,774,000 after buying an additional 1,815,543 shares during the last quarter. 71.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:C opened at $65.07 on Friday. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $75.24. The company has a market cap of $167.23 billion, a PE ratio of 9.78, a PEG ratio of 0.71 and a beta of 1.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36.
Citigroup (NYSE:C) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The company had revenue of $18.58 billion for the quarter, compared to analyst estimates of $18.56 billion. During the same quarter last year, the firm earned $1.68 EPS. Citigroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts expect that Citigroup Inc will post 7.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio is 27.07%.
C has been the topic of a number of research analyst reports. TheStreet raised Citigroup from a “c+” rating to a “b” rating in a report on Friday, January 25th. Jefferies Financial Group raised Citigroup from a “hold” rating to a “buy” rating and raised their target price for the company from $64.00 to $73.00 in a report on Friday, February 22nd. Zacks Investment Research raised Citigroup from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Monday, March 18th. Oppenheimer raised their target price on Citigroup from $94.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, Odeon Capital Group started coverage on Citigroup in a report on Wednesday, March 27th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Citigroup has a consensus rating of “Buy” and a consensus target price of $80.45.
In related news, CEO Stephen Bird sold 30,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $69.33, for a total value of $2,079,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by insiders.
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Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
See Also: Earnings Per Share (EPS)
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