Moors & Cabot Inc. increased its stake in Citigroup Inc (NYSE:C) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,308 shares of the financial services provider’s stock after purchasing an additional 6,779 shares during the quarter. Moors & Cabot Inc.’s holdings in Citigroup were worth $3,598,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Xact Kapitalforvaltning AB increased its stake in Citigroup by 3.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 489,741 shares of the financial services provider’s stock worth $33,058,000 after buying an additional 17,183 shares in the last quarter. Gables Capital Management Inc. purchased a new stake in Citigroup in the 1st quarter worth $508,000. Nvwm LLC increased its stake in Citigroup by 3.9% in the 1st quarter. Nvwm LLC now owns 28,770 shares of the financial services provider’s stock worth $1,948,000 after buying an additional 1,082 shares in the last quarter. PVG Asset Management Corp purchased a new stake in Citigroup in the 1st quarter worth $2,198,000. Finally, Doheny Asset Management CA increased its stake in Citigroup by 10.7% in the 1st quarter. Doheny Asset Management CA now owns 25,425 shares of the financial services provider’s stock worth $1,716,000 after buying an additional 2,448 shares in the last quarter. 76.54% of the stock is currently owned by institutional investors.
Citigroup opened at $67.76 on Wednesday, according to MarketBeat. The stock has a market capitalization of $171.55 billion, a P/E ratio of 12.71, a P/E/G ratio of 0.96 and a beta of 1.51. Citigroup Inc has a 12 month low of $63.16 and a 12 month high of $80.70. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.30.
The business also recently declared a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Monday, May 7th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 4th. This represents a $1.28 annualized dividend and a yield of 1.89%. Citigroup’s dividend payout ratio is currently 24.02%.
A number of equities research analysts have issued reports on C shares. Vining Sparks upgraded Citigroup to a “buy” rating and set a $80.00 price target for the company in a research note on Friday, April 6th. Morgan Stanley increased their price target on Citigroup from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, March 15th. HSBC upgraded Citigroup from a “hold” rating to a “buy” rating and increased their price target for the stock from $82.00 to $85.00 in a research note on Wednesday, April 11th. TheStreet lowered Citigroup from a “b-” rating to a “c+” rating in a research note on Tuesday, March 27th. Finally, Zacks Investment Research lowered Citigroup from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $80.78.
In related news, CFO John C. Gerspach sold 12,966 shares of Citigroup stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $72.31, for a total value of $937,571.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.
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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