Connecticut Wealth Management LLC acquired a new stake in Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,133 shares of the financial services provider’s stock, valued at approximately $248,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Tarbox Group Inc. increased its stake in shares of Citigroup by 0.8% in the third quarter. Tarbox Group Inc. now owns 4,799 shares of the financial services provider’s stock valued at $227,000 after buying an additional 40 shares during the last quarter. Financial Architects Inc increased its stake in shares of Citigroup by 0.5% in the third quarter. Financial Architects Inc now owns 8,828 shares of the financial services provider’s stock valued at $417,000 after buying an additional 41 shares during the last quarter. Gemmer Asset Management LLC increased its stake 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 last quarter. Perigon Wealth Management LLC increased its stake in shares of Citigroup by 2.1% in the second quarter. Perigon Wealth Management LLC now owns 4,113 shares of the financial services provider’s stock valued at $174,000 after buying an additional 83 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Citigroup by 0.7% in the third quarter. Proficio Capital Partners LLC now owns 15,056 shares of the financial services provider’s stock valued at $711,000 after buying an additional 100 shares during the last quarter. 74.15% of the stock is currently owned by institutional investors.
Shares of Citigroup Inc. (NYSE:C) opened at 57.63 on Friday. The firm has a market capitalization of $159.77 billion, a PE ratio of 12.21 and a beta of 1.68. Citigroup Inc. has a 12-month low of $36.61 and a 12-month high of $61.63. The company has a 50-day moving average of $58.32 and a 200 day moving average of $52.11.
Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.02. The firm earned $17 billion during 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%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. On average, analysts predict that Citigroup Inc. will post $5.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Monday, February 6th will be given a $0.16 dividend. The ex-dividend date is Thursday, February 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.11%. Citigroup’s payout ratio is 13.56%.
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Several analysts recently commented on the stock. Jefferies Group LLC set a $36.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research note on Saturday, November 19th. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $63.27 price objective for the company. in a research note on Monday, February 6th. Morgan Stanley upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective for the company 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 company a “hold” rating in a research note on Wednesday, November 30th. Finally, CLSA reiterated a “buy” rating and issued a $80.00 price objective on shares of Citigroup in a research note on Friday, January 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.55.
In related news, insider W. Bradford Hu sold 10,109 shares of Citigroup stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $55.96, for a total value of $565,699.64. Following the completion of the sale, the insider now directly owns 37,137 shares in the company, valued at $2,078,186.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.
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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