Abner Herrman & Brock LLC Lowers Position in Citigroup Inc (C)
Abner Herrman & Brock LLC trimmed its position in shares of Citigroup Inc (NYSE:C) by 27.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,445 shares of the financial services provider’s stock after selling 53,148 shares during the period. Abner Herrman & Brock LLC’s holdings in Citigroup were worth $7,416,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of C. Csenge Advisory Group acquired a new position in shares of Citigroup in the 3rd quarter worth approximately $104,000. Trust Asset Management LLC boosted its holdings in shares of Citigroup by 3,894.4% in the 3rd quarter. Trust Asset Management LLC now owns 347,150 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 338,459 shares in the last quarter. Arlington Partners LLC acquired a new position in shares of Citigroup in the 3rd quarter worth approximately $143,000. Almanack Investment Partners LLC. acquired a new position in shares of Citigroup in the 3rd quarter worth approximately $150,000. Finally, Peoples Financial Services CORP. boosted its holdings in shares of Citigroup by 82.8% in the 3rd quarter. Peoples Financial Services CORP. now owns 2,208 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 72.67% of the company’s stock.
Several research analysts have recently commented on C shares. Vining Sparks reissued a “buy” rating and issued a $77.00 target price on shares of Citigroup in a report on Tuesday, October 9th. Deutsche Bank boosted their target price on Citigroup from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. Zacks Investment Research raised Citigroup from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Tuesday, October 16th. Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price objective for the company in a research report on Wednesday, December 26th. Finally, Wells Fargo & Co cut shares of Citigroup to a “buy” rating in a research report on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $79.52.
Citigroup (NYSE:C) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. The company had revenue of $18.39 billion during the quarter, compared to analysts’ expectations of $18.43 billion. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. During the same quarter in the previous year, the company posted $1.42 EPS. As a group, research analysts forecast that Citigroup Inc will post 6.63 EPS for the current fiscal year.
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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