Pekin Singer Strauss Asset Management IL cut its holdings in Citigroup Inc (NYSE:C) by 21.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,719 shares of the financial services provider’s stock after selling 5,242 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in Citigroup were worth $975,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of C. Bank of New York Mellon Corp lifted its holdings in Citigroup by 96,369.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 41,578,475 shares of the financial services provider’s stock worth $2,982,839,000 after purchasing an additional 41,535,375 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Citigroup by 5,064.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 40,038,201 shares of the financial services provider’s stock worth $769,000 after acquiring an additional 39,262,981 shares in the last quarter. Senator Investment Group LP purchased a new stake in shares of Citigroup during the 3rd quarter worth approximately $134,512,000. Diamond Hill Capital Management Inc. raised its holdings in shares of Citigroup by 18.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 10,852,478 shares of the financial services provider’s stock worth $564,980,000 after acquiring an additional 1,721,014 shares in the last quarter. Finally, Matthew Goff Investment Advisor LLC raised its holdings in shares of Citigroup by 6,592.0% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 1,629,907 shares of the financial services provider’s stock worth $24,356,000 after acquiring an additional 1,605,551 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on C shares. Barclays decreased their price objective on Citigroup from $93.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, January 2nd. Wells Fargo & Co cut Citigroup to a “buy” rating in a report on Friday, January 4th. Zacks Investment Research cut Citigroup from a “buy” rating to a “hold” rating in a report on Tuesday, November 27th. Credit Suisse Group decreased their price objective on Citigroup from $88.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, December 7th. Finally, Standpoint Research raised Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price objective on the stock in a report on Wednesday, December 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. Citigroup currently has a consensus rating of “Buy” and a consensus price target of $77.33.
Citigroup (NYSE:C) last released its quarterly earnings results on Monday, January 14th. The financial services provider reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.06. Citigroup had a return on equity of 9.93% and a net margin of 18.58%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.57 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. Citigroup’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts forecast that Citigroup Inc will post 7.45 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Monday, February 4th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 1st. This represents a $1.80 annualized dividend and a yield of 2.81%. Citigroup’s payout ratio is presently 27.07%.
In other Citigroup news, insider W. Bradford Hu sold 5,420 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $64.27, for a total value of $348,343.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Whitaker sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total value of $442,680.00. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
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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