Cetera Investment Advisers lowered its stake in Citigroup Inc (NYSE:C) by 16.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,456 shares of the financial services provider’s stock after selling 1,450 shares during the quarter. Cetera Investment Advisers’ holdings in Citigroup were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of C. Bank of New York Mellon Corp grew its position in Citigroup by 96,369.8% in the third 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 acquiring an additional 41,535,375 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Citigroup by 5,064.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 40,038,201 shares of the financial services provider’s stock worth $769,000 after purchasing an additional 39,262,981 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Citigroup by 1.9% during the fourth quarter. Northern Trust Corp now owns 32,154,657 shares of the financial services provider’s stock worth $1,673,972,000 after purchasing an additional 604,791 shares during the last quarter. ValueAct Holdings L.P. grew its holdings in shares of Citigroup by 20.2% during the fourth quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock worth $1,641,218,000 after purchasing an additional 5,300,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Citigroup by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 30,039,886 shares of the financial services provider’s stock worth $1,561,201,000 after purchasing an additional 1,187,619 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.
C has been the topic of several research reports. Barclays cut their price target on Citigroup from $93.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Wells Fargo & Co lowered Citigroup to a “buy” rating in a research note on Friday, January 4th. Macquarie raised Citigroup from a “neutral” rating to an “outperform” rating in a research note on Monday, January 7th. Morgan Stanley cut their target price on Citigroup from $81.00 to $76.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 8th. Finally, Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 8th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and a consensus price target of $79.98.
Citigroup (NYSE:C) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.09. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The company had revenue of $18.58 billion during the quarter, compared to analysts’ expectations of $18.56 billion. During the same period last year, the firm posted $1.68 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that Citigroup Inc will post 7.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.59%. Citigroup’s payout ratio is 27.07%.
In related news, CEO Stephen Bird sold 30,000 shares of Citigroup stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $69.33, for a total transaction of $2,079,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider W. Bradford Hu sold 5,420 shares of Citigroup stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $64.27, for a total value of $348,343.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,420 shares of company stock valued at $2,870,923. Insiders own 0.09% of the company’s stock.
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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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