Citigroup Inc (NYSE:C) – Equities research analysts at Jefferies Financial Group reduced their Q2 2019 earnings per share estimates for shares of Citigroup in a report issued on Monday, April 1st, according to Zacks Investment Research. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will earn $1.91 per share for the quarter, down from their previous estimate of $1.95. Jefferies Financial Group currently has a “Buy” rating and a $73.00 target price on the stock. Jefferies Financial Group also issued estimates for Citigroup’s Q4 2019 earnings at $1.94 EPS.
Citigroup (NYSE:C) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. The company had revenue of $18.58 billion for the quarter, compared to the consensus estimate of $18.56 billion. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. Citigroup’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 earnings per share.
NYSE:C traded up $0.78 during trading hours on Thursday, reaching $69.51. 10,691,900 shares of the company were exchanged, compared to its average volume of 16,430,223. Citigroup has a 52-week low of $48.42 and a 52-week high of $75.24. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 1.36. The company has a market cap of $177.85 billion, a P/E ratio of 10.45, a P/E/G ratio of 0.80 and a beta of 1.67.
Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in shares of Citigroup by 96,369.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 41,578,475 shares of the financial services provider’s stock valued at $2,982,839,000 after buying an additional 41,535,375 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Citigroup by 5,064.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 40,038,201 shares of the financial services provider’s stock valued at $769,000 after purchasing an additional 39,262,981 shares during the last quarter. Northern Trust Corp lifted its position in Citigroup by 1.9% in the 4th quarter. Northern Trust Corp now owns 32,154,657 shares of the financial services provider’s stock valued at $1,673,972,000 after purchasing an additional 604,791 shares during the last quarter. ValueAct Holdings L.P. lifted its position in Citigroup by 20.2% in the 4th quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock valued at $1,641,218,000 after purchasing an additional 5,300,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Citigroup by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 30,039,886 shares of the financial services provider’s stock valued at $1,561,201,000 after purchasing an additional 1,187,619 shares during the last quarter. 71.30% of the stock is owned by institutional investors.
In other Citigroup news, insider Michael Whitaker sold 7,000 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider W. Bradford Hu sold 5,420 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $64.27, for a total transaction of $348,343.40. The disclosure for this sale can be found here. Insiders have sold a total of 42,420 shares of company stock worth $2,870,923 in the last ninety days. 0.09% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is 27.07%.
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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