Shikiar Asset Management Inc. lowered its position in Citigroup Inc. (NYSE:C) by 7.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,914 shares of the financial services provider’s stock after selling 7,250 shares during the period. Citigroup comprises 2.5% of Shikiar Asset Management Inc.’s portfolio, making the stock its 11th largest position. Shikiar Asset Management Inc.’s holdings in Citigroup were worth $5,618,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. FNY Partners Fund LP bought a new stake in shares of Citigroup during the fourth quarter valued at $106,000. Arrow Financial Corp raised its stake in shares of Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after buying an additional 85 shares during the last quarter. Patten Group Inc. raised its stake in shares of Citigroup by 12.3% in the third quarter. Patten Group Inc. now owns 2,426 shares of the financial services provider’s stock valued at $118,000 after buying an additional 265 shares during the last quarter. Pinnacle Bank acquired a new stake in shares of Citigroup during the first quarter valued at approximately $123,000. Finally, Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Citigroup during the fourth quarter valued at approximately $124,000. 74.24% of the stock is owned by institutional investors.
Citigroup Inc. (NYSE:C) traded up 0.92% on Monday, hitting $64.48. The stock had a trading volume of 13,264,757 shares. The firm has a market cap of $177.53 billion, a price-to-earnings ratio of 12.99 and a beta of 1.48. The company’s 50 day moving average price is $61.54 and its 200 day moving average price is $59.75. Citigroup Inc. has a 52-week low of $38.31 and a 52-week high of $65.40.
Citigroup (NYSE:C) last released its quarterly earnings data on Thursday, April 13th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. Citigroup had a net margin of 18.55% and a return on equity of 7.38%. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.75 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts expect that Citigroup Inc. will post $5.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Monday, May 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $0.64 dividend on an annualized basis and a yield of 0.99%. Citigroup’s payout ratio is 12.88%.
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C has been the topic of several recent research reports. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $66.90 price target on the stock. in a report on Tuesday, April 25th. Jefferies Group LLC reissued a “hold” rating and issued a $68.00 price objective on shares of Citigroup in a research note on Monday, May 15th. BMO Capital Markets reissued a “buy” rating and issued a $64.00 price objective on shares of Citigroup in a research note on Thursday, June 1st. Finally, Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $53.00 to $69.00 in a research note on Wednesday, April 5th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.65.
Citigroup Company Profile
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.
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