Shell Asset Management Co. reduced its position in Citigroup Inc (NYSE:C) by 38.8% in the 4th quarter, HoldingsChannel reports. The firm owned 286,855 shares of the financial services provider’s stock after selling 181,664 shares during the period. Shell Asset Management Co.’s holdings in Citigroup were worth $21,345,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sawyer & Company Inc purchased a new position in Citigroup in the 4th quarter valued at approximately $117,000. Baldwin Brothers Inc. MA increased its position in Citigroup by 88.4% during the fourth quarter. Baldwin Brothers Inc. MA now owns 1,598 shares of the financial services provider’s stock worth $119,000 after buying an additional 750 shares in the last quarter. Balentine LLC increased its position in Citigroup by 20.2% during the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after buying an additional 272 shares in the last quarter. Acrospire Investment Management LLC increased its position in Citigroup by 21.4% during the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after buying an additional 300 shares in the last quarter. Finally, Risk Paradigm Group LLC increased its position in Citigroup by 692.0% during the second quarter. Risk Paradigm Group LLC now owns 2,281 shares of the financial services provider’s stock worth $153,000 after buying an additional 1,993 shares in the last quarter. 80.21% of the stock is owned by hedge funds and other institutional investors.
C has been the subject of several recent research reports. ValuEngine raised Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods raised their price target on Citigroup from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th. DZ Bank raised Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Nomura set a $87.00 price target on Citigroup and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Vetr downgraded Citigroup from a “sell” rating to a “strong sell” rating and set a $70.80 price target 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 issued a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $79.65.
Citigroup (NYSE:C) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.09. Citigroup had a positive return on equity of 7.61% and a negative net margin of 7.05%. The firm had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. research analysts expect that Citigroup Inc will post 6.41 EPS for the current fiscal year.
The company 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. This represents a $1.28 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Friday, February 2nd. Citigroup’s payout ratio is currently -41.29%.
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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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