State Treasurer State of Michigan Sells 50,700 Shares of Citigroup Inc (C)

State Treasurer State of Michigan trimmed its stake in shares of Citigroup Inc (NYSE:C) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 699,156 shares of the financial services provider’s stock after selling 50,700 shares during the quarter. State Treasurer State of Michigan’s holdings in Citigroup were worth $36,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of C. Appleton Partners Inc. MA lifted its stake in shares of Citigroup by 0.4% in the 4th quarter. Appleton Partners Inc. MA now owns 39,955 shares of the financial services provider’s stock valued at $2,080,000 after purchasing an additional 175 shares during the period. TCI Wealth Advisors Inc. lifted its stake in shares of Citigroup by 7.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 2,806 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 197 shares during the period. Stillwater Investment Management LLC lifted its stake in shares of Citigroup by 0.7% in the 4th quarter. Stillwater Investment Management LLC now owns 29,668 shares of the financial services provider’s stock valued at $1,545,000 after purchasing an additional 204 shares during the period. Resource Management LLC lifted its stake in shares of Citigroup by 3.1% in the 4th quarter. Resource Management LLC now owns 7,412 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 226 shares during the period. Finally, KCS Wealth Advisory lifted its stake in shares of Citigroup by 2.2% in the 4th quarter. KCS Wealth Advisory now owns 10,461 shares of the financial services provider’s stock valued at $545,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 73.99% of the company’s stock.

C has been the subject of a number of research analyst reports. Zacks Investment Research cut Citigroup from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. Morgan Stanley lowered their price objective on Citigroup from $81.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, January 8th. Barclays lowered their price objective on Citigroup from $93.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, January 2nd. TheStreet upgraded Citigroup from a “c+” rating to a “b” rating in a research note on Friday, January 25th. Finally, Wells Fargo & Co cut Citigroup to a “buy” rating in a research note on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $77.20.

Shares of Citigroup stock traded up $0.09 on Monday, reaching $62.10. The company’s stock had a trading volume of 197,983 shares, compared to its average volume of 18,540,596. The firm has a market cap of $159.37 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.78 and a beta of 1.67. Citigroup Inc has a 52 week low of $48.42 and a 52 week high of $78.42. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30.

Citigroup (NYSE:C) last posted its earnings results on Monday, January 14th. The financial services provider reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.06. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.57 billion. Citigroup had a return on equity of 9.93% and a net margin of 18.58%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. On average, equities research analysts forecast that Citigroup Inc will post 7.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Monday, February 4th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, February 1st. Citigroup’s payout ratio is 27.07%.

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Citigroup Profile

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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