Hanson & Doremus Investment Management reduced its stake in Citigroup Inc (NYSE:C) by 2.8% in the fourth quarter, HoldingsChannel reports. The fund owned 8,445 shares of the financial services provider’s stock after selling 241 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Citigroup were worth $675,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Nuveen Asset Management LLC lifted its stake in shares of Citigroup by 1,638.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 23,014,050 shares of the financial services provider’s stock valued at $1,611,674,000 after purchasing an additional 21,690,409 shares during the last quarter. Morgan Stanley raised its holdings in shares of Citigroup by 3.4% in the 2nd quarter. Morgan Stanley now owns 12,856,381 shares of the financial services provider’s stock worth $900,333,000 after buying an additional 427,951 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Citigroup by 29.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,228,198 shares of the financial services provider’s stock worth $716,281,000 after buying an additional 2,322,201 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of Citigroup by 0.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 9,747,090 shares of the financial services provider’s stock worth $673,329,000 after buying an additional 89,738 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Citigroup by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,369,667 shares of the financial services provider’s stock worth $647,257,000 after purchasing an additional 23,449 shares in the last quarter. 76.95% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on C shares. Bank of America reissued a “buy” rating and issued a $94.00 price target on shares of Citigroup in a research note on Wednesday. BMO Capital Markets increased their price target on Citigroup from $95.00 to $97.00 and gave the stock an “average” rating in a report on Wednesday. They noted that the move was a valuation call. Wells Fargo & Co increased their price target on Citigroup from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group raised their target price on Citigroup from $87.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Citigroup from $77.50 to $84.50 and gave the stock an “overweight” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $88.87.
NYSE:C traded down $0.17 during mid-day trading on Thursday, reaching $81.07. 4,522,917 shares of the company’s stock traded hands, compared to its average volume of 11,701,934. Citigroup Inc has a 12-month low of $60.05 and a 12-month high of $83.11. The firm has a market capitalization of $178.83 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.85 and a beta of 1.81. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50 day moving average price of $77.88 and a 200-day moving average price of $71.71.
Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.04. Citigroup had a return on equity of 10.28% and a net margin of 18.75%. The company had revenue of $18.38 billion for the quarter, compared to the consensus estimate of $17.95 billion. During the same quarter in the previous year, the business earned $1.64 EPS. Citigroup’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts forecast that Citigroup Inc will post 8.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.52%. Citigroup’s payout ratio is presently 26.91%.
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).
Featured Article: What are popular green investing opportunities?
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.