Private Asset Management Inc. lessened its holdings in Citigroup Inc (NYSE:C) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,212 shares of the financial services provider’s stock after selling 2,068 shares during the quarter. Citigroup makes up approximately 2.7% of Private Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. Private Asset Management Inc.’s holdings in Citigroup were worth $17,204,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Beach Investment Management LLC. grew its position in shares of Citigroup by 895.5% during the 2nd quarter. Beach Investment Management LLC. now owns 349,614 shares of the financial services provider’s stock worth $23,382,000 after buying an additional 314,494 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position in Citigroup by 2.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 369,087 shares of the financial services provider’s stock valued at $24,685,000 after purchasing an additional 8,156 shares during the period. Summit Securities Group LLC acquired a new stake in Citigroup in the 2nd quarter valued at $896,000. Foundry Partners LLC grew its position in Citigroup by 3.2% in the 2nd quarter. Foundry Partners LLC now owns 413,085 shares of the financial services provider’s stock valued at $27,627,000 after purchasing an additional 12,705 shares during the period. Finally, First Trust Advisors LP grew its position in Citigroup by 50.4% in the 2nd quarter. First Trust Advisors LP now owns 1,745,517 shares of the financial services provider’s stock valued at $116,740,000 after purchasing an additional 585,103 shares during the period. Institutional investors and hedge funds own 80.71% of the company’s stock.
A number of research firms have issued reports on C. Vetr downgraded shares of Citigroup from a “sell” rating to a “strong sell” rating and set a $70.80 price objective on the stock. in a report on Monday, January 29th. Morgan Stanley boosted their price objective on Citigroup from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Citigroup from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Friday, February 2nd. Wells Fargo & Co set a $100.00 price target on Citigroup and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods cut Citigroup from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $90.00 to $82.00 in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $79.65.
Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.19 by $0.09. The company had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Citigroup had a positive return on equity of 7.60% and a negative net margin of 7.05%. Citigroup’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. equities analysts forecast that Citigroup Inc will post 6.4 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 5th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.28 annualized dividend and a yield of 1.67%. Citigroup’s payout ratio is 23.06%.
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Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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