Bedel Financial Consulting Inc. bought a new stake in shares of Citigroup (NYSE:C) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,977 shares of the financial services provider’s stock, valued at approximately $133,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in C. Pinnacle Financial Partners Inc. lifted its holdings in shares of Citigroup by 16.5% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 52,955 shares of the financial services provider’s stock valued at $3,575,000 after purchasing an additional 7,487 shares during the last quarter. Exchange Capital Management Inc. grew its position in Citigroup by 167.3% during the 1st quarter. Exchange Capital Management Inc. now owns 9,169 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 5,739 shares during the period. Advisor Partners LLC grew its position in Citigroup by 4.0% during the 1st quarter. Advisor Partners LLC now owns 63,438 shares of the financial services provider’s stock worth $4,282,000 after purchasing an additional 2,466 shares during the period. Stephens Inc. AR grew its position in Citigroup by 3.5% during the 1st quarter. Stephens Inc. AR now owns 57,294 shares of the financial services provider’s stock worth $3,867,000 after purchasing an additional 1,933 shares during the period. Finally, Annex Advisory Services LLC grew its position in Citigroup by 15.7% during the 1st quarter. Annex Advisory Services LLC now owns 20,783 shares of the financial services provider’s stock worth $1,403,000 after purchasing an additional 2,818 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on C. Morgan Stanley raised their target price on Citigroup from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, March 15th. ValuEngine cut Citigroup from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 1st. Vining Sparks upgraded Citigroup to a “buy” rating and set a $80.00 target price on the stock in a research report on Friday, April 6th. HSBC upgraded Citigroup from a “hold” rating to a “buy” rating and raised their target price for the company from $82.00 to $85.00 in a research report on Wednesday, April 11th. Finally, Daiwa Capital Markets cut Citigroup from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $80.92.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.07. The firm had revenue of $18.87 billion for the quarter, compared to analyst estimates of $18.89 billion. Citigroup had a negative net margin of 6.28% and a positive return on equity of 8.13%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.35 EPS. analysts forecast that Citigroup will post 6.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Monday, May 7th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Friday, May 4th. Citigroup’s payout ratio is 24.02%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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