Citigroup (C) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC cut its position in Citigroup (NYSE:C) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,630 shares of the financial services provider’s stock after selling 11,794 shares during the quarter. Citigroup accounts for 2.5% of Hourglass Capital LLC’s holdings, making the stock its 8th largest holding. Hourglass Capital LLC’s holdings in Citigroup were worth $10,978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its holdings in Citigroup by 10.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 3,463,624 shares of the financial services provider’s stock valued at $233,794,000 after purchasing an additional 320,022 shares during the period. Blue Fin Capital Inc. boosted its holdings in Citigroup by 5.9% in the first quarter. Blue Fin Capital Inc. now owns 15,296 shares of the financial services provider’s stock valued at $1,032,000 after purchasing an additional 850 shares during the period. Granite Springs Asset Management LLC boosted its holdings in Citigroup by 22.3% in the first quarter. Granite Springs Asset Management LLC now owns 4,401 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 801 shares during the period. Becker Capital Management Inc. boosted its holdings in Citigroup by 6.1% in the first quarter. Becker Capital Management Inc. now owns 614,166 shares of the financial services provider’s stock valued at $41,456,000 after purchasing an additional 35,176 shares during the period. Finally, Sandy Spring Bank boosted its holdings in Citigroup by 145.4% in the first quarter. Sandy Spring Bank now owns 22,488 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 13,325 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Shares of Citigroup opened at $71.95 on Thursday, MarketBeat.com reports. The stock has a market capitalization of $186.79 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.05 and a beta of 1.55. Citigroup has a 52-week low of $71.96 and a 52-week high of $72.75. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.01 and a current ratio of 1.01.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.07. The firm had revenue of $18.87 billion for the quarter, compared to analysts’ expectations of $18.89 billion. Citigroup had a positive return on equity of 8.13% and a negative net margin of 6.28%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.35 EPS. equities research analysts forecast that Citigroup will post 6.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Monday, May 7th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, May 4th. Citigroup’s payout ratio is 24.02%.

C has been the subject of a number of recent research reports. Vining Sparks upgraded Citigroup to a “buy” rating and set a $80.00 target price for the company in a report on Friday, April 6th. DZ Bank upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Morgan Stanley lifted their target price on Citigroup from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, March 15th. Vetr lowered Citigroup from a “sell” rating to a “strong sell” rating and set a $70.80 target price for the company. in a report on Monday, January 29th. Finally, HSBC upgraded Citigroup from a “hold” rating to a “buy” rating and lifted their target price for the company from $82.00 to $85.00 in a report on Wednesday, April 11th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $80.92.

Citigroup Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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