Telemus Capital LLC boosted its stake in Citigroup Inc (NYSE:C) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,343 shares of the financial services provider’s stock after purchasing an additional 1,572 shares during the quarter. Telemus Capital LLC’s holdings in Citigroup were worth $918,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Beach Investment Management LLC. raised its position in shares of Citigroup by 895.5% during the 2nd quarter. Beach Investment Management LLC. now owns 349,614 shares of the financial services provider’s stock valued at $23,382,000 after buying an additional 314,494 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Citigroup by 8.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 67,443 shares of the financial services provider’s stock worth $4,511,000 after acquiring an additional 5,316 shares in the last quarter. Cedar Capital LLC bought a new position in Citigroup in the 2nd quarter worth about $239,000. Pinnacle Associates Ltd. grew its stake in Citigroup by 13.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 536,887 shares of the financial services provider’s stock worth $35,907,000 after acquiring an additional 63,478 shares in the last quarter. Finally, First Business Financial Services Inc. bought a new position in Citigroup in the 2nd quarter worth about $202,000. Institutional investors and hedge funds own 79.62% of the company’s stock.
A number of equities analysts have recently issued reports on C shares. ValuEngine upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Deutsche Bank set a $74.00 price objective on shares of Citigroup and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Raymond James Financial started coverage on shares of Citigroup in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. Wells Fargo & Co set a $100.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $86.00 price objective on shares of Citigroup in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Citigroup currently has a consensus rating of “Buy” and a consensus target price of $79.65.
Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.09. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $17.23 billion. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.60%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. research analysts forecast that Citigroup Inc will post 6.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 5th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, February 2nd. This represents a $1.28 annualized dividend and a yield of 1.68%. Citigroup’s dividend payout ratio is presently -41.29%.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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.
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.