Whalerock Point Partners LLC bought a new position in Citigroup Inc. (NYSE:C) during the third quarter, Holdings Channel reports. The institutional investor bought 14,997 shares of the financial services provider’s stock, valued at approximately $708,000.
Several other hedge funds also recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Citigroup during the third quarter worth about $32,239,000. LPL Financial LLC increased its stake in shares of Citigroup by 13.8% in the third quarter. LPL Financial LLC now owns 83,111 shares of the financial services provider’s stock worth $3,969,000 after buying an additional 10,069 shares during the last quarter. Mosaic Family Wealth LLC increased its stake in shares of Citigroup by 10.2% in the third quarter. Mosaic Family Wealth LLC now owns 7,428 shares of the financial services provider’s stock worth $351,000 after buying an additional 685 shares during the last quarter. Covington Capital Management increased its stake in shares of Citigroup by 3.8% in the third quarter. Covington Capital Management now owns 104,032 shares of the financial services provider’s stock worth $4,913,000 after buying an additional 3,775 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. increased its stake in shares of Citigroup by 75.0% in the third quarter. PCJ Investment Counsel Ltd. now owns 35,000 shares of the financial services provider’s stock worth $1,653,000 after buying an additional 15,000 shares during the last quarter. 73.82% of the stock is owned by institutional investors and hedge funds.
Citigroup Inc. (NYSE:C) traded up 1.640% on Monday, hitting $58.575. The stock had a trading volume of 3,155,231 shares. Citigroup Inc. has a 12-month low of $35.98 and a 12-month high of $61.63. The company has a market cap of $162.39 billion, a price-to-earnings ratio of 12.410 and a beta of 1.68. The company’s 50 day moving average price is $58.32 and its 200-day moving average price is $52.11.
Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.02. The business had revenue of $17 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Citigroup had a return on equity of 7.09% and a net margin of 18.10%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS. Equities research analysts anticipate that Citigroup Inc. will post $5.20 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Monday, February 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, February 2nd. Citigroup’s payout ratio is 13.56%.
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A number of brokerages recently issued reports on C. Jefferies Group LLC set a $36.00 price objective on Citigroup and gave the stock a “buy” rating in a research report on Saturday, November 19th. Vetr downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $63.27 price objective for the company. in a research report on Monday, February 6th. Morgan Stanley raised Citigroup from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective for the company in a research report on Wednesday, November 30th. Deutsche Bank AG raised their price objective on Citigroup from $49.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, November 30th. Finally, CLSA reissued a “buy” rating and set a $80.00 price objective on shares of Citigroup in a research report on Friday, January 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $59.55.
In related news, insider W. Bradford Hu sold 10,109 shares of Citigroup stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $55.96, for a total value of $565,699.64. Following the transaction, the insider now directly owns 37,137 shares in the company, valued at approximately $2,078,186.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.
Citigroup Company Profile
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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