Nordea Investment Management AB reduced its stake in Citigroup Inc (NYSE:C) by 1.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,778,852 shares of the financial services provider’s stock after selling 79,384 shares during the period. Nordea Investment Management AB’s holdings in Citigroup were worth $359,562,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in C. Oregon Public Employees Retirement Fund raised its stake in Citigroup by 5,064.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 40,038,201 shares of the financial services provider’s stock worth $769,000 after buying an additional 39,262,981 shares in the last quarter. Norges Bank purchased a new stake in Citigroup in the fourth quarter worth about $1,383,526,000. ValueAct Holdings L.P. grew its holdings in Citigroup by 20.2% in the fourth quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock worth $1,641,218,000 after purchasing an additional 5,300,000 shares during the period. Lakewood Capital Management LP grew its holdings in Citigroup by 75.1% in the fourth quarter. Lakewood Capital Management LP now owns 6,071,500 shares of the financial services provider’s stock worth $316,082,000 after purchasing an additional 2,605,000 shares during the period. Finally, CI Investments Inc. grew its holdings in Citigroup by 113.5% in the fourth quarter. CI Investments Inc. now owns 3,414,800 shares of the financial services provider’s stock worth $177,774,000 after purchasing an additional 1,815,543 shares during the period. 76.00% of the stock is owned by institutional investors.
Shares of C stock opened at $67.48 on Monday. Citigroup Inc has a 12-month low of $48.42 and a 12-month high of $75.24. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $156.05 billion, a P/E ratio of 10.15, a P/E/G ratio of 0.73 and a beta of 1.72.
Citigroup (NYSE:C) last issued its earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. The company had revenue of $18.58 billion for the quarter, compared to analysts’ expectations of $18.56 billion. During the same quarter last year, the company posted $1.68 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc will post 7.6 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio is currently 27.07%.
In other Citigroup news, CEO Stephen Bird sold 30,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $69.33, for a total value of $2,079,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.
C has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. ValuEngine upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Wells Fargo & Co set a $90.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a report on Friday, May 3rd. Bank of America set a $77.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Morgan Stanley upped their price objective on shares of Citigroup from $76.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Citigroup has a consensus rating of “Buy” and a consensus target price of $79.39.
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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).
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