Channing Capital Management LLC reduced its position in shares of Citigroup Inc (NYSE:C) by 11.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 125,335 shares of the financial services provider’s stock after selling 16,790 shares during the period. Channing Capital Management LLC’s holdings in Citigroup were worth $6,525,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in C. Evolution Wealth Advisors LLC bought a new position in shares of Citigroup in the fourth quarter worth about $29,000. Larson Financial Group LLC bought a new position in shares of Citigroup in the fourth quarter worth about $29,000. Signet Investment Advisory Group Inc. bought a new position in shares of Citigroup in the fourth quarter worth about $32,000. Blume Capital Management Inc. raised its stake in shares of Citigroup by 4,615.4% in the fourth quarter. Blume Capital Management Inc. now owns 613 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 600 shares during the last quarter. Finally, Acima Private Wealth LLC bought a new position in shares of Citigroup in the fourth quarter worth about $33,000. 70.37% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on C shares. TheStreet downgraded shares of Citigroup from a “b-” rating to a “c+” rating in a research note on Tuesday, December 11th. Standpoint Research downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Credit Suisse Group dropped their price target on shares of Citigroup from $88.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, December 7th. Zacks Investment Research raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Monday, December 10th. Finally, Jefferies Financial Group raised shares of Citigroup from a “hold” rating to a “buy” rating and boosted their price target for the stock from $64.00 to $73.00 in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Citigroup presently has a consensus rating of “Buy” and a consensus price target of $77.33.
Citigroup (NYSE:C) last issued its quarterly earnings data on Monday, January 14th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.06. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.57 billion. Citigroup had a net margin of 18.58% and a return on equity of 9.93%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. On average, equities research analysts anticipate that Citigroup Inc will post 7.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Monday, February 4th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, February 1st. Citigroup’s dividend payout ratio is currently 27.07%.
In related news, insider Michael Whitaker sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total transaction of $442,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider W. Bradford Hu sold 5,420 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $64.27, for a total transaction of $348,343.40. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
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Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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