Abner Herrman & Brock LLC Cuts Position in Citigroup Inc. (NYSE:C)

Abner Herrman & Brock LLC reduced its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 7.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,140 shares of the company's stock after selling 8,036 shares during the quarter. Abner Herrman & Brock LLC's holdings in Citigroup were worth $6,896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of C. Brighton Jones LLC raised its stake in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Union Bancaire Privee UBP SA bought a new position in Citigroup in the 4th quarter worth approximately $10,400,000. Crews Bank & Trust purchased a new position in Citigroup in the 4th quarter valued at approximately $175,000. Mediolanum International Funds Ltd purchased a new position in Citigroup in the 4th quarter valued at approximately $10,295,000. Finally, Caprock Group LLC raised its holdings in Citigroup by 27.7% during the 4th quarter. Caprock Group LLC now owns 80,628 shares of the company's stock valued at $5,675,000 after acquiring an additional 17,466 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 1.0%

NYSE:C traded up $0.74 during mid-day trading on Tuesday, reaching $76.54. 9,794,940 shares of the company's stock traded hands, compared to its average volume of 14,527,456. The company has a 50 day moving average price of $68.94 and a 200-day moving average price of $72.55. The firm has a market capitalization of $142.96 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.64 and a beta of 1.30. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed 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. This represents a $2.24 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's payout ratio is currently 35.39%.

Analyst Ratings Changes

A number of research firms have recently commented on C. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 price target (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Sunday. JPMorgan Chase & Co. reduced their target price on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. The Goldman Sachs Group cut their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Finally, Evercore ISI reduced their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.97.

Insiders Place Their Bets

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

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.