Orbis Allan Gray Ltd Decreases Position in Citigroup Inc. (C)
Orbis Allan Gray Ltd cut its holdings in Citigroup Inc. (NYSE:C) by 81.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 353,095 shares of the financial services provider’s stock after selling 1,528,872 shares during the quarter. Orbis Allan Gray Ltd’s holdings in Citigroup were worth $23,615,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Citigroup in the second quarter valued at approximately $1,034,000. Catamount Wealth Management bought a new position in shares of Citigroup in the second quarter valued at approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Citigroup by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,030 shares during the period. Dubuque Bank & Trust Co. raised its position in shares of Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 599 shares during the period. Finally, Acrospire Investment Management LLC raised its position in shares of Citigroup by 21.4% in the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.
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Shares of Citigroup Inc. (NYSE:C) opened at $72.26 on Friday. The stock has a market cap of $191,055.59, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.57. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11. Citigroup Inc. has a fifty-two week low of $55.23 and a fifty-two week high of $76.14.
Citigroup (NYSE:C) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.10. The firm had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. equities research analysts forecast that Citigroup Inc. will post 5.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 24.66%.
A number of equities analysts have recently commented on C shares. J P Morgan Chase & Co set a $73.50 price target on shares of Citigroup and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 price target on the stock. in a research report on Monday, July 31st. Keefe, Bruyette & Woods set a $75.00 price target on shares of Citigroup and gave the company a “buy” rating in a research report on Sunday, August 13th. BidaskClub raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Thursday, September 21st. Finally, Credit Suisse Group reissued a “buy” rating and issued a $73.00 price target on shares of Citigroup in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $75.61.
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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