Steph & Co. Trims Stock Holdings in Citigroup Inc. (NYSE:C)

Steph & Co. lessened its stake in shares of Citigroup Inc. (NYSE:C) by 9.5% in the fourth quarter, HoldingsChannel reports. The firm owned 9,687 shares of the company’s stock after selling 1,017 shares during the quarter. Steph & Co.’s holdings in Citigroup were worth $498,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Snider Financial Group boosted its holdings in Citigroup by 96,645.9% in the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock worth $4,512,000 after acquiring an additional 84,407,589 shares during the period. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 519,202 shares in the last quarter. Morgan Stanley grew its stake in Citigroup by 2.6% during the 4th quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock worth $1,169,317,000 after buying an additional 666,560 shares during the last quarter. Northern Trust Corp lifted its stake in Citigroup by 1.2% in the third quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock valued at $824,710,000 after buying an additional 232,652 shares during the last quarter. Finally, Pzena Investment Management LLC increased its holdings in shares of Citigroup by 3.0% in the 3rd quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock worth $683,886,000 after acquiring an additional 486,952 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C traded up $1.15 on Wednesday, hitting $58.17. The company had a trading volume of 14,882,195 shares, compared to its average volume of 17,315,002. The stock has a market cap of $111.41 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The company’s fifty day moving average price is $58.04 and its 200 day moving average price is $50.93. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.86 EPS. Equities analysts predict that Citigroup Inc. will post 5.73 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s payout ratio is presently 62.72%.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research report on Wednesday, January 3rd. Oppenheimer cut their price objective on Citigroup from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Monday. Societe Generale downgraded Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. Finally, StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.91.

Citigroup Profile

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.