Lee Capital Management LP decreased its stake in shares of Citigroup Inc. (NYSE:C) by 58.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,000 shares of the financial services provider’s stock after selling 20,000 shares during the quarter. Lee Capital Management LP’s holdings in Citigroup were worth $936,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Atlantic Trust Group LLC grew its stake in Citigroup by 2.1% during the 1st quarter. Atlantic Trust Group LLC now owns 1,684,028 shares of the financial services provider’s stock worth $100,739,000 after buying an additional 34,379 shares during the last quarter. Ruggie Capital Group acquired a new stake in Citigroup during the 1st quarter worth approximately $137,000. Leisure Capital Management lifted its position in Citigroup by 8.6% during the 1st quarter. Leisure Capital Management now owns 3,704 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 292 shares during the period. Sullivan Bruyette Speros & Blaney LLC lifted its position in Citigroup by 4.0% during the 1st quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,009 shares of the financial services provider’s stock worth $359,000 after acquiring an additional 230 shares during the period. Finally, IFM Investors Pty Ltd lifted its position in Citigroup by 55.9% during the 1st quarter. IFM Investors Pty Ltd now owns 57,987 shares of the financial services provider’s stock worth $3,469,000 after acquiring an additional 20,802 shares during the period. Institutional investors own 78.59% of the company’s stock.
A number of analysts have weighed in on C shares. Wells Fargo & Company began coverage on Citigroup in a research report on Wednesday, August 9th. They set an “outperform” rating and a $90.00 price objective for the company. set a $74.00 price target on Citigroup and gave the company a “hold” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods set a $75.00 price target on Citigroup and gave the company a “buy” rating in a report on Sunday, August 13th. ValuEngine raised Citigroup from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Societe Generale raised Citigroup from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $63.00 to $70.00 in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $75.83.
Citigroup (NYSE:C) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The firm had revenue of $18.17 billion for the quarter, compared to analysts’ expectations of $17.87 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. research analysts forecast that Citigroup Inc. will post 5.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, November 3rd. Citigroup’s dividend payout ratio is presently 24.66%.
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Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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