Gabelli Funds LLC Cuts Stock Position in Citigroup Inc. (NYSE:C)

Gabelli Funds LLC lessened its stake in Citigroup Inc. (NYSE:C) by 0.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 445,730 shares of the company’s stock after selling 1,600 shares during the quarter. Gabelli Funds LLC’s holdings in Citigroup were worth $22,928,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in C. Keybank National Association OH grew its holdings in shares of Citigroup by 20.2% during the third quarter. Keybank National Association OH now owns 22,118 shares of the company’s stock worth $910,000 after buying an additional 3,717 shares in the last quarter. Western Wealth Management LLC grew its holdings in shares of Citigroup by 13.8% during the third quarter. Western Wealth Management LLC now owns 8,554 shares of the company’s stock worth $352,000 after buying an additional 1,038 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Citigroup by 24.3% during the third quarter. Spire Wealth Management now owns 20,601 shares of the company’s stock worth $847,000 after buying an additional 4,021 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Citigroup by 2.4% in the third quarter. Janney Montgomery Scott LLC now owns 701,577 shares of the company’s stock valued at $28,856,000 after purchasing an additional 16,255 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Citigroup by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,751,201 shares of the company’s stock valued at $565,587,000 after purchasing an additional 192,631 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock traded up $0.74 during midday trading on Wednesday, reaching $61.77. The company’s stock had a trading volume of 7,333,068 shares, compared to its average volume of 15,406,298. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $64.98. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50 day simple moving average is $62.00 and its 200 day simple moving average is $56.21. The firm has a market capitalization of $117.82 billion, a PE ratio of 18.28, a P/E/G ratio of 0.93 and a beta of 1.48.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.29. The business had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 EPS. On average, equities research analysts forecast that Citigroup Inc. will post 5.96 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is 62.72%.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Jefferies Financial Group upped their target price on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Evercore ISI upped their target price on shares of Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Oppenheimer decreased their target price on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.66.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.