Cadence Capital Management LLC Sells 6,344 Shares of Citigroup Inc (C)
Cadence Capital Management LLC lowered its holdings in shares of Citigroup Inc (NYSE:C) by 15.7% during the third quarter, HoldingsChannel reports. The firm owned 34,067 shares of the financial services provider’s stock after selling 6,344 shares during the period. Cadence Capital Management LLC’s holdings in Citigroup were worth $2,478,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in C. Atria Investments LLC raised its holdings in shares of Citigroup by 32.2% during the 2nd quarter. Atria Investments LLC now owns 21,358 shares of the financial services provider’s stock valued at $1,428,000 after purchasing an additional 5,198 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Citigroup during the 2nd quarter valued at $2,244,000. Private Trust Co. NA raised its holdings in shares of Citigroup by 58.8% during the 2nd quarter. Private Trust Co. NA now owns 8,470 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 3,136 shares in the last quarter. Capital Investment Advisors LLC raised its holdings in shares of Citigroup by 13.4% during the 2nd quarter. Capital Investment Advisors LLC now owns 71,543 shares of the financial services provider’s stock valued at $4,785,000 after purchasing an additional 8,468 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in Citigroup by 8.3% in the 2nd quarter. Fulton Bank N.A. now owns 22,580 shares of the financial services provider’s stock worth $1,511,000 after acquiring an additional 1,728 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.
Shares of Citigroup Inc (NYSE:C) opened at $76.84 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11. The stock has a market cap of $203,170.00, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.23 and a beta of 1.56. Citigroup Inc has a 12-month low of $55.23 and a 12-month high of $77.92.
Citigroup (NYSE:C) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the 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 business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. sell-side analysts predict that Citigroup Inc will post 5.25 earnings per share for the current fiscal year.
Several research analysts recently commented on C shares. Credit Suisse Group reiterated a “buy” rating and issued a $83.00 target price (up previously from $73.00) on shares of Citigroup in a report on Monday, October 9th. They noted that the move was a valuation call. BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. Wells Fargo & Co reiterated a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $75.00 target price on shares of Citigroup in a report on Wednesday, September 27th. Finally, Nomura lifted their target price on shares of Citigroup from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $77.92.
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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