Martin & Co. Inc. TN lessened its stake in Citigroup Inc. (NYSE:C – Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,681 shares of the company’s stock after selling 750 shares during the quarter. Martin & Co. Inc. TN’s holdings in Citigroup were worth $906,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich grew its position in Citigroup by 86,191.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 545,751,112 shares of the company’s stock worth $25,126,381,000 after acquiring an additional 545,118,661 shares during the period. Snider Financial Group grew its holdings in shares of Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock worth $4,512,000 after purchasing an additional 84,407,589 shares during the period. Norges Bank acquired a new stake in shares of Citigroup during the 4th quarter worth about $631,922,000. FMR LLC raised its holdings in Citigroup by 161.9% in the 1st quarter. FMR LLC now owns 18,451,528 shares of the company’s stock valued at $865,192,000 after buying an additional 11,407,293 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its position in Citigroup by 87,332.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,511,342 shares of the company’s stock valued at $339,738,000 after buying an additional 7,502,751 shares during the last quarter. 69.26% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on C shares. HSBC started coverage on shares of Citigroup in a research report on Thursday, September 7th. They set a “hold” rating and a $43.00 price objective for the company. Morgan Stanley reduced their target price on shares of Citigroup from $45.00 to $43.00 and set an “underweight” rating on the stock in a report on Tuesday, October 3rd. Royal Bank of Canada dropped their price target on shares of Citigroup from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Wednesday, September 20th. StockNews.com began coverage on Citigroup in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, BMO Capital Markets upped their price target on Citigroup from $61.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Hold” and an average price target of $51.28.
Insider Buying and Selling
In related news, insider Andrew John Morton sold 28,096 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $40.66, for a total value of $1,142,383.36. Following the completion of the transaction, the insider now directly owns 410,060 shares of the company’s stock, valued at approximately $16,673,039.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.
Citigroup Stock Performance
NYSE C opened at $45.26 on Tuesday. The stock has a market capitalization of $86.62 billion, a price-to-earnings ratio of 7.17, a PEG ratio of 2.46 and a beta of 1.55. The business’s 50 day moving average is $41.32 and its two-hundred day moving average is $43.94. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $53.23. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45.
Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data on Friday, October 13th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.29. Citigroup had a return on equity of 6.76% and a net margin of 9.22%. The firm had revenue of $20.14 billion for the quarter, compared to analyst estimates of $19.27 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. Citigroup’s quarterly revenue was up 8.8% on a year-over-year basis. Research analysts expect that Citigroup Inc. will post 5.86 EPS for the current year.
Citigroup Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 33.60%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.
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