Greenhaven Associates Inc. Reduces Stake in Citigroup Inc (C)

Greenhaven Associates Inc. reduced its position in shares of Citigroup Inc (NYSE:C) by 0.6% in the first quarter, HoldingsChannel.com reports. The firm owned 12,155,981 shares of the financial services provider’s stock after selling 75,270 shares during the period. Citigroup comprises 13.4% of Greenhaven Associates Inc.’s investment portfolio, making the stock its largest position. Greenhaven Associates Inc.’s holdings in Citigroup were worth $756,345,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hourglass Capital LLC lifted its holdings in Citigroup by 4.2% in the first quarter. Hourglass Capital LLC now owns 151,871 shares of the financial services provider’s stock worth $9,449,000 after buying an additional 6,159 shares during the period. Prio Wealth Limited Partnership purchased a new stake in Citigroup in the first quarter worth about $234,000. WESPAC Advisors SoCal LLC lifted its holdings in Citigroup by 60.2% in the first quarter. WESPAC Advisors SoCal LLC now owns 4,060 shares of the financial services provider’s stock worth $252,000 after buying an additional 1,525 shares during the period. Cornerstone Advisors Inc. lifted its holdings in Citigroup by 21.2% in the first quarter. Cornerstone Advisors Inc. now owns 5,948 shares of the financial services provider’s stock worth $370,000 after buying an additional 1,042 shares during the period. Finally, Schwartz Investment Counsel Inc. lifted its holdings in Citigroup by 12.9% in the first quarter. Schwartz Investment Counsel Inc. now owns 30,700 shares of the financial services provider’s stock worth $1,910,000 after buying an additional 3,500 shares during the period. Institutional investors own 71.11% of the company’s stock.

C has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. ValuEngine raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. HSBC set a $76.00 target price on shares of Citigroup and gave the company a “buy” rating in a research note on Thursday, April 4th. UBS Group raised their target price on shares of Citigroup from $78.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, 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 research note on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.45.

Shares of NYSE C opened at $64.96 on Tuesday. The company has a market cap of $166.18 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.71 and a beta of 1.71. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.36. Citigroup Inc has a fifty-two week low of $48.42 and a fifty-two week high of $75.24.

Citigroup (NYSE:C) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The company had revenue of $18.58 billion during 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%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 earnings per share. On average, sell-side analysts anticipate that Citigroup Inc will post 7.58 EPS for the current year.

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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is currently 27.07%.

In related news, CEO Stephen Bird sold 30,000 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by company insiders.

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About Citigroup

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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