Whitener Capital Management Inc. cut its stake in Citigroup Inc (NYSE:C) by 3.8% in the 1st quarter, HoldingsChannel reports. The fund owned 9,435 shares of the financial services provider’s stock after selling 370 shares during the quarter. Whitener Capital Management Inc.’s holdings in Citigroup were worth $587,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in C. LFA Lugano Financial Advisors SA bought a new position in shares of Citigroup in the 1st quarter valued at $27,000. Evolution Wealth Advisors LLC bought a new stake in Citigroup during the 4th quarter worth $29,000. Larson Financial Group LLC bought a new stake in Citigroup during the 4th quarter worth $29,000. Signet Investment Advisory Group Inc. bought a new stake in Citigroup during the 4th quarter worth $32,000. Finally, Blume Capital Management Inc. grew its position in Citigroup by 4,615.4% during the 4th quarter. Blume Capital Management Inc. now owns 613 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 600 shares during the last quarter. 71.11% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Stephen Bird sold 30,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $69.33, for a total value of $2,079,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by insiders.
Citigroup (NYSE:C) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.05% and a net margin of 18.32%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 EPS. Analysts anticipate that Citigroup Inc will post 7.58 EPS for the current 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio is 27.07%.
A number of brokerages recently weighed in on C. Zacks Investment Research upgraded Citigroup from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Monday, April 29th. Wells Fargo & Co set a $90.00 target price on Citigroup and gave the stock a “buy” rating in a report on Friday, May 3rd. ValuEngine raised Citigroup from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Morgan Stanley lifted their target price on Citigroup from $76.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Finally, UBS Group lifted their target price on Citigroup from $78.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $80.45.
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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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