Cigna Investments Inc. New lowered its holdings in shares of Citigroup Inc (NYSE:C) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 68,291 shares of the financial services provider’s stock after selling 3,881 shares during the period. Cigna Investments Inc. New’s holdings in Citigroup were worth $4,249,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC boosted its position in Citigroup by 24.5% during the 4th quarter. HighPoint Advisor Group LLC now owns 7,878 shares of the financial services provider’s stock valued at $507,000 after buying an additional 1,552 shares during the period. Front Barnett Associates LLC boosted its position in Citigroup by 0.4% during the 1st quarter. Front Barnett Associates LLC now owns 134,044 shares of the financial services provider’s stock valued at $8,340,000 after buying an additional 551 shares during the period. Family Legacy Inc. boosted its position in Citigroup by 341.8% during the 4th quarter. Family Legacy Inc. now owns 1,542 shares of the financial services provider’s stock valued at $80,000 after buying an additional 1,193 shares during the period. MUFG Securities EMEA plc purchased a new stake in Citigroup during the 4th quarter valued at $29,160,000. Finally, RWC Asset Management LLP boosted its position in Citigroup by 13.4% during the 4th quarter. RWC Asset Management LLP now owns 420,019 shares of the financial services provider’s stock valued at $21,866,000 after buying an additional 49,563 shares during the period. 76.08% of the stock is currently owned by institutional investors.
Several research firms have recently commented on C. Zacks Investment Research raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Monday, April 29th. Wells Fargo & Co set a $90.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research report on Friday, May 3rd. ValuEngine raised shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Morgan Stanley raised their target price on shares of Citigroup from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, UBS Group raised their target price on shares of Citigroup from $78.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $79.39.
Citigroup (NYSE:C) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $18.58 billion during the quarter, compared to analyst estimates of $18.56 billion. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. Citigroup’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $1.68 EPS. Equities research analysts expect that Citigroup Inc will post 7.6 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.69%. Citigroup’s dividend payout ratio is currently 27.07%.
In other Citigroup news, CEO Stephen Bird sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $69.33, for a total transaction of $2,079,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company 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 in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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