Bessemer Group Inc. Reduces Stock Position in Citigroup Inc. (NYSE:C)

Bessemer Group Inc. lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 52.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,631 shares of the company's stock after selling 58,465 shares during the quarter. Bessemer Group Inc.'s holdings in Citigroup were worth $3,737,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after purchasing an additional 667,357 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the last quarter. FMR LLC lifted its stake in shares of Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors increased its position in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after buying an additional 25,705,141 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

C has been the topic of several recent analyst reports. TD Cowen initiated coverage on Citigroup in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 target price on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a research report on Tuesday, May 20th. Cowen started coverage on Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Evercore ISI cut their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Finally, Bank of America increased their price objective on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average target price of $84.03.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of C stock opened at $84.41 on Friday. The company has a market capitalization of $157.66 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.65 and a beta of 1.33. The business's 50 day moving average is $74.53 and its two-hundred day moving average is $73.62. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.79.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. Analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.65%. Citigroup's dividend payout ratio is currently 35.39%.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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