Legacy Wealth Asset Management LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,496 shares of the company’s stock, valued at approximately $771,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Mcmillion Capital Management Inc. bought a new position in shares of Citigroup during the 4th quarter valued at $27,000. Advisory Alpha LLC bought a new position in shares of Citigroup during the 3rd quarter valued at $28,000. Charter Oak Capital Management LLC bought a new position in shares of Citigroup during the 4th quarter valued at $28,000. Johnson Midwest Financial LLC bought a new position in Citigroup in the 4th quarter worth $29,000. Finally, Capstone Triton Financial Group LLC bought a new position in Citigroup in the 4th quarter worth $29,000. 72.99% of the stock is currently owned by hedge funds and other institutional investors.
C has been the topic of a number of recent research reports. Berenberg Bank cut Citigroup from a “buy” rating to a “hold” rating and raised their target price for the stock from $55.00 to $70.00 in a report on Thursday, January 21st. Edward Jones cut Citigroup from a “buy” rating to a “hold” rating in a report on Monday, March 29th. Zacks Investment Research raised Citigroup from a “hold” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a report on Wednesday, December 30th. Royal Bank of Canada increased their price target on Citigroup from $66.00 to $73.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Citigroup from $58.00 to $66.00 and gave the stock a “hold” rating in a research note on Wednesday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Citigroup currently has an average rating of “Buy” and an average price target of $72.66.
Citigroup (NYSE:C) last released its quarterly earnings results on Thursday, January 14th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.74. Citigroup had a net margin of 13.17% and a return on equity of 6.63%. The business had revenue of $16.50 billion for the quarter, compared to analyst estimates of $16.71 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 6.42 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Monday, May 3rd will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Friday, April 30th. Citigroup’s dividend payout ratio is currently 41.80%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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