Northwestern Mutual Investment Management Company LLC cut its stake in shares of Citigroup Inc (NYSE:C) by 3.7% during the 1st quarter, HoldingsChannel reports. The fund owned 357,327 shares of the financial services provider’s stock after selling 13,622 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Citigroup were worth $22,233,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of C. LFA Lugano Financial Advisors SA acquired a new position in Citigroup during the first quarter worth $27,000. Harvest Group Wealth Management LLC acquired a new position in Citigroup during the first quarter worth $28,000. Farmers National Bank acquired a new position in Citigroup during the first quarter worth $34,000. Larson Financial Group LLC acquired a new position in Citigroup during the fourth quarter worth $29,000. Finally, Avestar Capital LLC raised its holdings in Citigroup by 35.0% during the first quarter. Avestar Capital LLC now owns 610 shares of the financial services provider’s stock worth $33,000 after buying an additional 158 shares during the last quarter. 76.08% of the stock is currently owned by institutional investors and hedge funds.
NYSE C opened at $67.08 on Friday. Citigroup Inc has a 52-week low of $48.42 and a 52-week high of $75.24. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $154.50 billion, a P/E ratio of 10.09, a P/E/G ratio of 0.72 and a beta of 1.72.
Citigroup (NYSE:C) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. The business had revenue of $18.58 billion during the quarter, compared to the consensus estimate of $18.56 billion. During the same quarter last year, the company posted $1.68 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Citigroup Inc will post 7.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.68%. Citigroup’s dividend payout ratio is presently 27.07%.
C has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Morgan Stanley increased their target price on shares of Citigroup from $76.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Odeon Capital Group initiated coverage on shares of Citigroup in a report on Wednesday, March 27th. They issued a “hold” rating for the company. Oppenheimer increased their target price on shares of Citigroup from $94.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, UBS Group increased their target price on shares of Citigroup from $78.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $79.39.
In other Citigroup news, CEO Stephen Bird sold 30,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $69.33, for a total transaction of $2,079,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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