Citigroup Inc (C) Position Increased by Cetera Advisors LLC
Cetera Advisors LLC boosted its position in shares of Citigroup Inc (NYSE:C) by 1.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 18,926 shares of the financial services provider’s stock after purchasing an additional 240 shares during the quarter. Cetera Advisors LLC’s holdings in Citigroup were worth $1,178,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. First Allied Advisory Services Inc. boosted its holdings in shares of Citigroup by 8.8% during the 1st quarter. First Allied Advisory Services Inc. now owns 88,229 shares of the financial services provider’s stock valued at $5,456,000 after acquiring an additional 7,101 shares during the last quarter. Cobblestone Capital Advisors LLC NY purchased a new stake in shares of Citigroup during the 1st quarter valued at about $303,000. OLD National Bancorp IN boosted its holdings in shares of Citigroup by 1.2% during the 1st quarter. OLD National Bancorp IN now owns 34,706 shares of the financial services provider’s stock valued at $2,159,000 after acquiring an additional 405 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Citigroup by 7.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 394,711 shares of the financial services provider’s stock valued at $24,559,000 after acquiring an additional 27,611 shares during the last quarter. Finally, Focused Wealth Management Inc boosted its holdings in shares of Citigroup by 20.4% during the 1st quarter. Focused Wealth Management Inc now owns 53,247 shares of the financial services provider’s stock valued at $3,313,000 after acquiring an additional 9,021 shares during the last quarter. 72.18% of the stock is currently owned by institutional investors.
C has been the topic of a number of recent analyst reports. TheStreet raised shares of Citigroup from a “c+” rating to a “b” rating in a report on Friday, January 25th. Jefferies Financial Group raised shares of Citigroup from a “hold” rating to a “buy” rating and raised their price target for the company from $64.00 to $73.00 in a report on Friday, February 22nd. Zacks Investment Research raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Monday, March 18th. Oppenheimer raised their price target on shares of Citigroup from $94.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, Odeon Capital Group initiated coverage on shares of Citigroup in a report on Wednesday, March 27th. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $80.45.
Citigroup (NYSE:C) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. The firm had revenue of $18.58 billion for the quarter, compared to analysts’ expectations of $18.56 billion. During the same quarter in the prior year, the business earned $1.68 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that Citigroup Inc will post 7.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 27.07%.
In other news, CEO Stephen Bird sold 30,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $69.33, for a total value of $2,079,900.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Further Reading: Reverse Stock Split
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