Los Angeles Capital Management LLC reduced its position in shares of Citigroup Inc. (NYSE:C – Get Rating) by 41.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 477,421 shares of the company’s stock after selling 339,029 shares during the period. Los Angeles Capital Management LLC’s holdings in Citigroup were worth $25,494,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in C. New England Professional Planning Group Inc. acquired a new stake in Citigroup in the first quarter valued at $227,000. Outfitter Financial LLC acquired a new stake in Citigroup in the fourth quarter valued at $30,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Citigroup in the fourth quarter valued at $31,000. FSB Premier Wealth Management Inc. acquired a new stake in Citigroup in the fourth quarter valued at $31,000. Finally, AHL Investment Management Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth $32,000. 74.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
C has been the topic of a number of research reports. BMO Capital Markets dropped their target price on shares of Citigroup from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Royal Bank of Canada dropped their target price on shares of Citigroup from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, June 27th. Wells Fargo & Company dropped their target price on shares of Citigroup from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. UBS Group increased their target price on shares of Citigroup from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 18th. Finally, Morgan Stanley dropped their target price on shares of Citigroup from $57.00 to $46.00 and set an “underweight” rating on the stock in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.95.
Citigroup Stock Performance
Citigroup (NYSE:C – Get Rating) last announced its earnings results on Friday, July 15th. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.62 by $0.57. Citigroup had a return on equity of 10.25% and a net margin of 20.06%. The firm had revenue of $19.64 billion for the quarter, compared to analysts’ expectations of $18.32 billion. During the same quarter in the previous year, the company earned $2.84 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 7.21 EPS for the current year.
Citigroup Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Monday, August 1st will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, July 29th. This represents a $2.04 annualized dividend and a yield of 3.95%. Citigroup’s payout ratio is 26.09%.
Citigroup Company Profile
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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