Aspen Investment Management Inc trimmed its stake in Citigroup Inc (NYSE:C) by 46.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,851 shares of the financial services provider’s stock after selling 5,935 shares during the period. Aspen Investment Management Inc’s holdings in Citigroup were worth $357,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of C. Ancora Advisors LLC lifted its stake in shares of Citigroup by 8.4% in the 4th quarter. Ancora Advisors LLC now owns 42,292 shares of the financial services provider’s stock worth $2,201,000 after acquiring an additional 3,283 shares during the period. Segall Bryant & Hamill LLC lifted its stake in shares of Citigroup by 2.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 75,725 shares of the financial services provider’s stock valued at $3,942,000 after purchasing an additional 1,932 shares during the period. CapWealth Advisors LLC increased its holdings in Citigroup by 12.1% during the 4th quarter. CapWealth Advisors LLC now owns 332,758 shares of the financial services provider’s stock valued at $17,323,000 after acquiring an additional 35,912 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Citigroup by 23.1% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,472,011 shares of the financial services provider’s stock valued at $180,751,000 after acquiring an additional 650,584 shares in the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC increased its holdings in Citigroup by 35.0% during the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 294,374 shares of the financial services provider’s stock valued at $15,325,000 after acquiring an additional 76,352 shares in the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.
C has been the subject of several recent research reports. Barclays dropped their target price on shares of Citigroup from $93.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Wells Fargo & Co downgraded shares of Citigroup to a “buy” rating in a report on Friday, January 4th. Morgan Stanley raised 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. Finally, Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price target for the company in a report on Wednesday, December 26th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $80.61.
Citigroup (NYSE:C) last released its earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $18.56 billion. During the same period last year, the company earned $1.68 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that Citigroup Inc will post 7.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.45 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.62%. Citigroup’s dividend payout ratio is presently 27.07%.
In other Citigroup news, insider Michael Whitaker sold 7,000 shares of Citigroup stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total transaction of $442,680.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Bird sold 30,000 shares of Citigroup stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $69.33, for a total transaction of $2,079,900.00. The disclosure for this sale can be found here. Insiders sold 42,420 shares of company stock worth $2,870,923 over the last three months. Corporate insiders own 0.09% of the company’s stock.
Citigroup Company Profile
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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