Mizuho Asset Management Co. Ltd. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 27.6% during the third quarter, Holdings Channel reports. The firm owned 28,717 shares of the financial services provider’s stock after selling 10,935 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Citigroup were worth $1,356,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Gemmer Asset Management LLC increased its position in shares of Citigroup by 3.2% in the third quarter. Gemmer Asset Management LLC now owns 2,234 shares of the financial services provider’s stock valued at $106,000 after buying an additional 69 shares during the period. City Holding Co. increased its stake in shares of Citigroup by 26.6% in the third quarter. City Holding Co. now owns 2,305 shares of the financial services provider’s stock valued at $109,000 after buying an additional 485 shares during the last quarter. Enterprise Financial Services Corp increased its stake in shares of Citigroup by 44.5% in the third quarter. Enterprise Financial Services Corp now owns 2,447 shares of the financial services provider’s stock valued at $116,000 after buying an additional 753 shares during the last quarter. Cedar Wealth Management LLC increased its stake in shares of Citigroup by 4.6% in the third quarter. Cedar Wealth Management LLC now owns 2,734 shares of the financial services provider’s stock valued at $129,000 after buying an additional 121 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Citigroup by 36.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,262 shares of the financial services provider’s stock valued at $154,000 after buying an additional 874 shares during the last quarter. Institutional investors own 74.15% of the company’s stock.
Shares of Citigroup Inc. (NYSE:C) opened at 57.63 on Friday. The firm’s 50-day moving average price is $58.32 and its 200 day moving average price is $52.11. The company has a market capitalization of $159.77 billion, a PE ratio of 12.21 and a beta of 1.68. Citigroup Inc. has a one year low of $36.61 and a one year high of $61.63.
Citigroup (NYSE:C) last released its earnings results on Wednesday, January 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $17 billion for the quarter, compared to analyst estimates of $17.26 billion. Citigroup had a return on equity of 7.09% and a net margin of 18.10%. Citigroup’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 EPS. Analysts anticipate that Citigroup Inc. will post $5.20 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Monday, February 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, February 2nd. Citigroup’s dividend payout ratio (DPR) is currently 13.56%.
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Several brokerages have recently issued reports on C. Jefferies Group LLC set a $36.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research note on Saturday, November 19th. Vetr upgraded shares of Citigroup from a “sell” rating to a “hold” rating and set a $56.21 price objective on the stock in a research note on Wednesday, November 30th. Deutsche Bank AG raised their price objective on shares of Citigroup from $49.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, November 30th. Barclays PLC raised their price objective on shares of Citigroup from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. Finally, Guggenheim restated a “buy” rating on shares of Citigroup in a research note on Sunday, December 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and an average target price of $59.55.
In other news, insider W. Bradford Hu sold 10,109 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $55.96, for a total transaction of $565,699.64. Following the sale, the insider now directly owns 37,137 shares of the company’s stock, valued at approximately $2,078,186.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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