Gabelli Funds LLC trimmed its position in shares of Citigroup Inc (NYSE:C) by 51.0% during the fourth quarter, Holdings Channel reports. The fund owned 277,385 shares of the financial services provider’s stock after selling 288,200 shares during the quarter. Gabelli Funds LLC’s holdings in Citigroup were worth $14,441,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Citigroup during the 4th quarter worth $443,000. Trust Co. of Vermont raised its stake in shares of Citigroup by 19.4% during the 4th quarter. Trust Co. of Vermont now owns 21,483 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 3,494 shares during the period. Eagle Global Advisors LLC raised its stake in shares of Citigroup by 57.6% during the 4th quarter. Eagle Global Advisors LLC now owns 5,475 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 2,000 shares during the period. First Personal Financial Services raised its stake in shares of Citigroup by 186.0% during the 4th quarter. First Personal Financial Services now owns 2,076 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 1,350 shares during the period. Finally, First Manhattan Co. raised its stake in shares of Citigroup by 5.7% during the 4th quarter. First Manhattan Co. now owns 848,019 shares of the financial services provider’s stock worth $44,147,000 after purchasing an additional 45,552 shares during the period. 72.54% of the stock is currently owned by hedge funds and other institutional investors.
C stock opened at $63.81 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 1.30. The stock has a market cap of $164.64 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 0.80 and a beta of 1.67. Citigroup Inc has a twelve month low of $48.42 and a twelve month high of $78.42.
Citigroup (NYSE:C) last posted its earnings results on Monday, January 14th. The financial services provider reported $1.61 earnings per share for the quarter, beating 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 in the previous year, the firm earned $1.28 EPS. Sell-side analysts expect that Citigroup Inc will post 7.5 EPS for the current fiscal year.
The business 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Friday, February 1st. Citigroup’s payout ratio is presently 27.07%.
A number of brokerages recently issued reports on C. Barclays lowered their price objective on Citigroup from $93.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Wells Fargo & Co cut Citigroup to a “buy” rating in a research note on Friday, January 4th. Zacks Investment Research cut Citigroup from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. Credit Suisse Group lowered their price objective on Citigroup from $88.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, December 7th. Finally, Standpoint Research upgraded Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price objective on the stock in a research note on Wednesday, December 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $77.20.
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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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