Pinnacle Associates Ltd. trimmed its position in Citigroup (NYSE:C) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 544,349 shares of the financial services provider’s stock after selling 3,019 shares during the period. Pinnacle Associates Ltd.’s holdings in Citigroup were worth $40,505,000 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. Janus Henderson Group PLC lifted its stake in shares of Citigroup by 227.4% in the 3rd quarter. Janus Henderson Group PLC now owns 9,629,422 shares of the financial services provider’s stock valued at $700,395,000 after purchasing an additional 6,688,305 shares during the period. PointState Capital LP acquired a new position in shares of Citigroup in the 2nd quarter valued at $321,322,000. The Manufacturers Life Insurance Company lifted its stake in shares of Citigroup by 42.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock valued at $990,836,000 after purchasing an additional 4,413,329 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Citigroup by 71.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 5,777,086 shares of the financial services provider’s stock valued at $420,225,000 after purchasing an additional 2,416,400 shares during the period. Finally, PGGM Investments acquired a new position in shares of Citigroup in the 3rd quarter valued at $111,515,000. Hedge funds and other institutional investors own 80.21% of the company’s stock.
A number of research analysts have recently weighed in on C shares. Nomura increased their price target on Citigroup to $84.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Wells Fargo set a $95.00 price target on Citigroup and gave the company a “buy” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods increased their price target on Citigroup from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. Credit Suisse Group reissued a “buy” rating and issued a $83.00 price target on shares of Citigroup in a research note on Tuesday, December 12th. Finally, DZ Bank raised Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. Citigroup has a consensus rating of “Hold” and a consensus price target of $79.69.
Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.09. Citigroup had a positive return on equity of 7.61% and a negative net margin of 7.05%. The firm had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter last year, the business posted $1.14 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. equities research analysts forecast that Citigroup will post 6.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 5th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, February 2nd. Citigroup’s dividend payout ratio is -41.29%.
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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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