RMB Capital Management LLC Sells 16,283 Shares of Citigroup Inc. (NYSE:C)

RMB Capital Management LLC lowered its stake in shares of Citigroup Inc. (NYSE:C – Get Rating) by 51.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,221 shares of the company’s stock after selling 16,283 shares during the quarter. RMB Capital Management LLC’s holdings in Citigroup were worth $813,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Outfitter Financial LLC acquired a new position in Citigroup during the 4th quarter valued at about $30,000. FSB Premier Wealth Management Inc. acquired a new position in Citigroup during the 4th quarter valued at about $31,000. Gordian Capital Singapore Pte Ltd acquired a new position in Citigroup during the 4th quarter valued at about $31,000. AHL Investment Management Inc. acquired a new position in Citigroup during the 4th quarter valued at about $32,000. Finally, Valley Forge Investment Consultants Inc. ADV raised its position in shares of Citigroup by 98.1% in the 4th quarter. Valley Forge Investment Consultants Inc. ADV now owns 535 shares of the company’s stock valued at $32,000 after acquiring an additional 265 shares during the period. Institutional investors own 74.91% of the company’s stock.

Citigroup Trading Up 0.8 %

Shares of Citigroup stock opened at $51.66 on Friday. The business has a fifty day simple moving average of $49.22 and a two-hundred day simple moving average of $53.97. Citigroup Inc. has a 1 year low of $43.44 and a 1 year high of $74.64. The company has a market capitalization of $102.33 billion, a price-to-earnings ratio of 6.61, a P/E/G ratio of 0.64 and a beta of 1.60. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.93 and a quick ratio of 0.92.

Citigroup (NYSE:C – Get Rating) last announced its quarterly earnings results on Friday, July 15th. The company reported $2.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $19.64 billion during the quarter, compared to the consensus estimate of $18.32 billion. During the same quarter last year, the firm posted $2.84 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. 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. Stockholders of record on Monday, August 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, July 29th. Citigroup’s dividend payout ratio is currently 26.09%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on C shares. Royal Bank of Canada cut their price target on shares of Citigroup from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, June 27th. TheStreet downgraded shares of Citigroup from a “b-” rating to a “c+” rating in a research report on Tuesday, June 21st. Credit Suisse Group cut their price target on shares of Citigroup from $58.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. Seaport Res Ptn reissued a “buy” rating on shares of Citigroup in a research note on Friday, July 8th. Finally, Jefferies Financial Group lowered their target price on Citigroup from $54.00 to $48.00 in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.95.

Citigroup Company Profile

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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).