Lord Abbett & CO. LLC trimmed its position in Citigroup Inc (NYSE:C) by 13.4% in the fourth quarter, HoldingsChannel reports. The firm owned 491,392 shares of the financial services provider’s stock after selling 76,208 shares during the period. Lord Abbett & CO. LLC’s holdings in Citigroup were worth $25,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Citigroup by 96,369.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 41,578,475 shares of the financial services provider’s stock worth $2,982,839,000 after purchasing an additional 41,535,375 shares during the period. CI Investments Inc. boosted its stake in Citigroup by 5.6% during the 3rd quarter. CI Investments Inc. now owns 1,599,257 shares of the financial services provider’s stock worth $114,731,000 after purchasing an additional 84,800 shares during the period. Bahl & Gaynor Inc. boosted its stake in Citigroup by 14.6% during the 3rd quarter. Bahl & Gaynor Inc. now owns 10,652 shares of the financial services provider’s stock worth $764,000 after purchasing an additional 1,356 shares during the period. Cobblestone Capital Advisors LLC NY boosted its stake in Citigroup by 36.8% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 4,274 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 1,150 shares during the period. Finally, Schroder Investment Management Group boosted its stake in Citigroup by 3.3% during the 3rd quarter. Schroder Investment Management Group now owns 2,170,780 shares of the financial services provider’s stock worth $155,732,000 after purchasing an additional 68,859 shares during the period. Institutional investors and hedge funds own 71.29% of the company’s stock.

C stock opened at $60.98 on Monday. Citigroup Inc has a one year low of $48.42 and a one year high of $75.24. The firm has a market capitalization of $156.72 billion, a PE ratio of 9.17, a PEG ratio of 0.77 and a beta of 1.68. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.30.

Citigroup (NYSE:C) last announced its quarterly earnings results on Monday, January 14th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.06. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.57 billion. Citigroup had a net margin of 18.58% and a return on equity of 9.93%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 EPS. As a group, research analysts expect that Citigroup Inc will post 7.45 EPS for the current year.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. 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. TheStreet upgraded shares of Citigroup from a “c+” rating to a “b” rating in a research note on Friday, January 25th. Standpoint Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $80.00 target price on shares of Citigroup in a research note on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $77.80.

In other news, insider W. Bradford Hu sold 5,420 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $64.27, for a total value of $348,343.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Whitaker sold 7,000 shares of the 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 disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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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 in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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