Harvey Capital Management Inc. raised its position in Citigroup Inc (NYSE:C) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 125,945 shares of the financial services provider’s stock after acquiring an additional 1,310 shares during the period. Citigroup accounts for approximately 3.4% of Harvey Capital Management Inc.’s holdings, making the stock its 7th biggest position. Harvey Capital Management Inc.’s holdings in Citigroup were worth $9,371,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sandy Spring Bank lifted its stake in shares of Citigroup by 392.6% in the fourth quarter. Sandy Spring Bank now owns 9,163 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 7,303 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in shares of Citigroup by 5.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 516,375 shares of the financial services provider’s stock valued at $38,423,000 after purchasing an additional 25,259 shares during the period. Steinberg Global Asset Management lifted its stake in shares of Citigroup by 8.5% in the fourth quarter. Steinberg Global Asset Management now owns 19,599 shares of the financial services provider’s stock valued at $1,458,000 after purchasing an additional 1,536 shares during the period. Omnia Family Wealth LLC raised its position in Citigroup by 187.7% during the fourth quarter. Omnia Family Wealth LLC now owns 2,299 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Gator Capital Management LLC acquired a new position in Citigroup during the fourth quarter worth about $1,840,000. Hedge funds and other institutional investors own 79.62% of the company’s stock.
A number of brokerages have issued reports on C. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Citigroup in a research report on Wednesday, January 17th. DZ Bank upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Macquarie lifted their target price on shares of Citigroup from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. set a $80.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Vetr cut shares of Citigroup from a “sell” rating to a “strong sell” rating and set a $70.80 target price for the company. in a research report on Monday, January 29th. Two equities 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 given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $79.65.
Citigroup (NYSE:C) last released its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.09. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.60%. The firm had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. Citigroup’s revenue was up 1.4% compared to the same quarter last year. equities analysts anticipate that Citigroup Inc will post 6.4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 5th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.66%. Citigroup’s payout ratio is -41.29%.
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Citigroup Company Profile
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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