Successful Portfolios LLC Acquires Shares of 4,074 Citigroup Inc. (NYSE:C)

Successful Portfolios LLC purchased a new position in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,074 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors also recently bought and sold shares of the company. Snider Financial Group boosted its holdings in shares of Citigroup by 96,645.9% in the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after buying an additional 84,407,589 shares in the last quarter. State Street Corp increased its holdings in Citigroup by 1.7% during the 2nd quarter. State Street Corp now owns 83,964,367 shares of the company’s stock valued at $3,865,719,000 after acquiring an additional 1,442,952 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Citigroup by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock worth $1,646,775,000 after purchasing an additional 519,202 shares during the last quarter. Morgan Stanley grew its holdings in Citigroup by 2.6% in the fourth quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock valued at $1,169,317,000 after purchasing an additional 666,560 shares during the period. Finally, Northern Trust Corp grew its stake in Citigroup by 1.2% during the third quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock worth $824,710,000 after buying an additional 232,652 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.8 %

NYSE:C traded up $0.49 during trading hours on Thursday, reaching $63.24. The company’s stock had a trading volume of 18,911,124 shares, compared to its average volume of 17,433,268. The firm has a 50-day simple moving average of $56.06 and a 200-day simple moving average of $48.95. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $63.37. The firm has a market capitalization of $121.12 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.72 and a beta of 1.50. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, January 12th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of $0.73 by ($1.89). The business had revenue of $17.44 billion for the quarter, compared to the consensus estimate of $18.71 billion. Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. Research analysts expect that Citigroup Inc. will post 5.83 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 5th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, February 2nd. Citigroup’s payout ratio is currently 53.13%.

Analyst Ratings Changes

C has been the subject of a number of recent analyst reports. Oppenheimer decreased their target price on shares of Citigroup from $95.00 to $88.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Wednesday, January 3rd. The Goldman Sachs Group raised Citigroup from a “neutral” rating to a “buy” rating and increased their price objective for the company from $55.00 to $68.00 in a research report on Thursday, March 14th. StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, TheStreet upgraded Citigroup from a “c+” rating to a “b-” rating in a research note on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.56.

About Citigroup

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.