Acorn Financial Advisory Services Inc. ADV grew its stake in shares of Citigroup Inc. (NYSE:C) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,404 shares of the company’s stock after purchasing an additional 214 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Citigroup were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in C. Norges Bank purchased a new stake in shares of Citigroup during the 4th quarter worth $1,832,503,000. Sanders Capital LLC boosted its position in shares of Citigroup by 27.2% during the 4th quarter. Sanders Capital LLC now owns 25,785,994 shares of the company’s stock worth $1,699,622,000 after purchasing an additional 5,512,418 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Citigroup by 14.7% during the 4th quarter. Bank of New York Mellon Corp now owns 39,116,141 shares of the company’s stock worth $2,411,901,000 after purchasing an additional 4,999,115 shares in the last quarter. Cibc World Markets Corp boosted its position in shares of Citigroup by 469.8% during the 4th quarter. Cibc World Markets Corp now owns 5,189,503 shares of the company’s stock worth $319,985,000 after purchasing an additional 4,278,703 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Citigroup by 35.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 11,866,546 shares of the company’s stock worth $731,691,000 after purchasing an additional 3,079,578 shares in the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.
Shares of NYSE:C traded down $0.12 during trading on Monday, reaching $72.30. 572,708 shares of the stock were exchanged, compared to its average volume of 19,885,246. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.97 and a current ratio of 0.97. Citigroup Inc. has a 12-month low of $38.76 and a 12-month high of $76.13. The firm has a market cap of $150.87 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.95. The firm’s 50-day moving average price is $71.00 and its 200 day moving average price is $58.46.
Citigroup (NYSE:C) last issued its earnings results on Thursday, January 14th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.74. Citigroup had a return on equity of 6.63% and a net margin of 13.17%. The business had revenue of $16.50 billion during the quarter, compared to analysts’ expectations of $16.71 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc. will post 6.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Stockholders of record on Monday, May 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, April 30th. Citigroup’s payout ratio is currently 41.80%.
Several equities research analysts have commented on C shares. DA Davidson boosted their target price on shares of Citigroup from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, January 19th. Royal Bank of Canada boosted their target price on shares of Citigroup from $66.00 to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 19th. Wells Fargo & Company lifted their price target on Citigroup from $74.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, March 8th. Berenberg Bank downgraded Citigroup from a “buy” rating to a “hold” rating and lifted their price target for the stock from $55.00 to $70.00 in a research note on Thursday, January 21st. Finally, Morgan Stanley lifted their price target on Citigroup from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, March 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Citigroup presently has an average rating of “Buy” and an average target price of $73.20.
Citigroup Company Profile
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. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Further Reading: Why is the ROA ratio important?