Mondrian Investment Partners LTD Trims Stake in Citigroup Inc (C)
Mondrian Investment Partners LTD trimmed its position in shares of Citigroup Inc (NYSE:C) by 4.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,122,928 shares of the financial services provider’s stock after selling 46,735 shares during the period. Citigroup accounts for approximately 2.0% of Mondrian Investment Partners LTD’s investment portfolio, making the stock its 13th biggest holding. Mondrian Investment Partners LTD’s holdings in Citigroup were worth $83,557,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Citigroup by 3.8% in the 2nd quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock valued at $7,343,721,000 after acquiring an additional 4,061,637 shares in the last quarter. Harris Associates L P raised its stake in shares of Citigroup by 0.5% in the 2nd quarter. Harris Associates L P now owns 41,350,951 shares of the financial services provider’s stock valued at $2,765,551,000 after acquiring an additional 221,171 shares in the last quarter. Northern Trust Corp raised its stake in shares of Citigroup by 3.1% in the 2nd quarter. Northern Trust Corp now owns 34,097,795 shares of the financial services provider’s stock valued at $2,280,461,000 after acquiring an additional 1,011,532 shares in the last quarter. Boston Partners raised its stake in shares of Citigroup by 3.4% in the 3rd quarter. Boston Partners now owns 24,591,045 shares of the financial services provider’s stock valued at $1,788,752,000 after acquiring an additional 817,162 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Citigroup by 4.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 24,118,886 shares of the financial services provider’s stock valued at $1,754,343,000 after acquiring an additional 1,091,989 shares in the last quarter. Institutional investors and hedge funds own 80.94% of the company’s stock.
Several research analysts have commented on C shares. Raymond James Financial started coverage on Citigroup in a research report on Tuesday, October 31st. They issued a “hold” rating on the stock. Morgan Stanley lifted their price target on Citigroup from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Jefferies Group set a $81.00 price target on Citigroup and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Nomura lifted their price target on Citigroup to $84.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $83.00 price target on shares of Citigroup in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.44.
Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.09. The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Citigroup had a positive return on equity of 7.60% and a negative net margin of 7.05%. Citigroup’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. analysts predict that Citigroup Inc will post 6.4 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 5th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, February 2nd. Citigroup’s dividend payout ratio is presently -41.29%.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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