Coastwise Capital Group LLC cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 27.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,736 shares of the company's stock after selling 3,364 shares during the period. Coastwise Capital Group LLC's holdings in Citigroup were worth $620,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of C. American Century Companies Inc. grew its holdings in shares of Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock worth $24,844,000 after purchasing an additional 11,674 shares in the last quarter. Invesco Ltd. grew its position in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock valued at $1,143,633,000 after acquiring an additional 1,970,300 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after acquiring an additional 649,807 shares during the last quarter. Brighton Jones LLC grew its position in Citigroup by 166.9% during the fourth 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 last quarter. Finally, Onyx Bridge Wealth Group LLC bought a new position in Citigroup during the first quarter valued at approximately $214,000. 71.72% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on C shares. JPMorgan Chase & Co. dropped their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Oppenheimer set a $123.00 target price on Citigroup and gave the company an "outperform" rating in a report on Wednesday. Wells Fargo & Company upped their target price on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday. Bank of America upped their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.46.
Get Our Latest Stock Report on C
Insiders Place Their Bets
In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
Citigroup Stock Up 0.4%
NYSE C opened at $93.44 on Friday. The stock's 50-day moving average price is $80.43 and its 200-day moving average price is $75.48. The company has a market capitalization of $174.52 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $93.80. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.
Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter last year, the company earned $1.52 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.
Citigroup Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.57%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is presently 35.45%.
Citigroup Profile
(
Free Report)
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.
Further Reading
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 - Free Report).
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