Citigroup Inc (C) Position Trimmed by Castleark Management LLC
Castleark Management LLC cut its holdings in shares of Citigroup Inc (NYSE:C) by 94.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,010 shares of the financial services provider’s stock after selling 150,000 shares during the quarter. Castleark Management LLC’s holdings in Citigroup were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Edgestream Partners L.P. purchased a new stake in shares of Citigroup in the 3rd quarter worth about $406,000. MML Investors Services LLC lifted its position in shares of Citigroup by 9.2% in the 3rd quarter. MML Investors Services LLC now owns 83,151 shares of the financial services provider’s stock worth $5,965,000 after purchasing an additional 7,016 shares during the period. Twin Capital Management Inc. lifted its position in shares of Citigroup by 4.1% in the 3rd quarter. Twin Capital Management Inc. now owns 372,650 shares of the financial services provider’s stock worth $26,734,000 after purchasing an additional 14,760 shares during the period. Linscomb & Williams Inc. lifted its position in shares of Citigroup by 11.2% in the 3rd quarter. Linscomb & Williams Inc. now owns 12,293 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 1,237 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Citigroup by 4.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 326,413 shares of the financial services provider’s stock worth $23,417,000 after purchasing an additional 13,058 shares during the period. Hedge funds and other institutional investors own 70.37% of the company’s stock.
Several research firms have recently commented on C. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Citigroup in a research report on Tuesday, January 15th. TheStreet upgraded shares of Citigroup from a “c+” rating to a “b” rating in a research note on Friday, January 25th. Finally, Jefferies Financial Group upgraded shares of Citigroup from a “hold” rating to a “buy” rating and increased their price target for the stock from $64.00 to $73.00 in a research note on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Citigroup presently has an average rating of “Buy” and a consensus target price of $77.33.
Citigroup (NYSE:C) last released its quarterly earnings data on Monday, January 14th. The financial services provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.57 billion. Citigroup had a net margin of 18.58% and a return on equity of 9.93%. Citigroup’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. Equities research analysts expect that Citigroup Inc will post 7.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Monday, February 4th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, February 1st. This represents a $1.80 dividend on an annualized basis and a yield of 2.76%. Citigroup’s dividend payout ratio is currently 27.07%.
In other Citigroup news, insider Michael Whitaker sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total transaction of $442,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider W. Bradford Hu sold 5,420 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $64.27, for a total transaction of $348,343.40. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
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Citigroup Company Profile
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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