Parsec Financial Management Inc. reduced its position in Citigroup Inc. (NYSE:C) by 3.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 91,014 shares of the financial services provider’s stock after selling 3,292 shares during the quarter. Parsec Financial Management Inc.’s holdings in Citigroup were worth $6,620,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Analysts LLC boosted its position in shares of Citigroup by 5.4% during the 2nd quarter. Capital Analysts LLC now owns 45,844 shares of the financial services provider’s stock worth $3,066,000 after purchasing an additional 2,367 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Citigroup by 5.2% during the 2nd quarter. Principal Financial Group Inc. now owns 4,152,299 shares of the financial services provider’s stock worth $277,705,000 after purchasing an additional 205,298 shares in the last quarter. BlackRock Inc. boosted its position in shares of Citigroup by 2,718.7% during the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares in the last quarter. Amalgamated Bank boosted its position in shares of Citigroup by 1.0% during the 1st quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock worth $11,674,000 after purchasing an additional 1,937 shares in the last quarter. Finally, Bank of Hawaii boosted its position in shares of Citigroup by 52.2% during the 2nd quarter. Bank of Hawaii now owns 6,536 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 2,242 shares in the last quarter. 78.59% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on C shares. ValuEngine upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Societe Generale upgraded shares of Citigroup from a “sell” rating to a “hold” rating and boosted their target price for the stock from $63.00 to $70.00 in a research report on Monday, September 11th. Credit Suisse Group restated a “buy” rating and set a $73.00 target price on shares of Citigroup in a research report on Wednesday, September 13th. BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Thursday, September 21st. Finally, Atlantic Securities restated an “overweight” rating and set a $85.00 target price (up from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $75.97.
Citigroup (NYSE:C) last released its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.10. The company had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. equities research analysts predict that Citigroup Inc. will post 5.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.68%. Citigroup’s dividend payout ratio (DPR) is 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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