Sei Investments Co. decreased its position in shares of Citigroup Inc. (NYSE:C) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 664,381 shares of the company’s stock after selling 40,094 shares during the period. Sei Investments Co.’s holdings in Citigroup were worth $44,798,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. BlackRock Inc. increased its position in Citigroup by 2.9% in the first quarter. BlackRock Inc. now owns 160,204,580 shares of the company’s stock worth $11,654,883,000 after purchasing an additional 4,464,991 shares during the last quarter. Bank of New York Mellon Corp increased its position in Citigroup by 14.7% in the fourth quarter. Bank of New York Mellon Corp now owns 39,116,141 shares of the company’s stock worth $2,411,901,000 after purchasing an additional 4,999,115 shares during the last quarter. Norges Bank bought a new stake in Citigroup in the fourth quarter worth $1,832,503,000. Sanders Capital LLC increased its position in Citigroup by 0.7% in the first quarter. Sanders Capital LLC now owns 25,967,514 shares of the company’s stock worth $2,047,435,000 after purchasing an additional 181,520 shares during the last quarter. Finally, FMR LLC increased its position in Citigroup by 0.6% in the fourth quarter. FMR LLC now owns 20,013,516 shares of the company’s stock worth $1,234,033,000 after purchasing an additional 116,064 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.
Several research firms have commented on C. Morgan Stanley lifted their price objective on shares of Citigroup from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 13th. Wolfe Research lowered shares of Citigroup from an “outperform” rating to a “peer perform” rating and set a $76.00 price objective for the company. in a research note on Monday, April 5th. They noted that the move was a valuation call. Barclays lifted their price objective on shares of Citigroup from $77.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 7th. Wells Fargo & Company boosted their target price on shares of Citigroup from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Citigroup from $74.50 to $77.50 and gave the company a “neutral” rating in a research note on Monday, May 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Citigroup currently has a consensus rating of “Buy” and a consensus target price of $76.70.
Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, April 14th. The company reported $3.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $1.02. Citigroup had a net margin of 20.27% and a return on equity of 9.55%. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.34 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, research analysts expect that Citigroup Inc. will post 9.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Monday, May 3rd were given a $0.51 dividend. The ex-dividend date was Friday, April 30th. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. 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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