Northwestern Mutual Wealth Management Co. raised its stake in Citigroup Inc (NYSE:C) by 55.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 305,033 shares of the financial services provider’s stock after purchasing an additional 109,350 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Citigroup were worth $18,979,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in C. Oregon Public Employees Retirement Fund boosted its position in Citigroup by 5,064.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 40,038,201 shares of the financial services provider’s stock worth $769,000 after purchasing an additional 39,262,981 shares in the last quarter. Norges Bank purchased a new stake in Citigroup during the fourth quarter worth $1,383,526,000. ValueAct Holdings L.P. boosted its position in Citigroup by 20.2% during the fourth quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock worth $1,641,218,000 after purchasing an additional 5,300,000 shares in the last quarter. Lakewood Capital Management LP boosted its position in Citigroup by 75.1% during the fourth quarter. Lakewood Capital Management LP now owns 6,071,500 shares of the financial services provider’s stock worth $316,082,000 after purchasing an additional 2,605,000 shares in the last quarter. Finally, CI Investments Inc. boosted its position in Citigroup by 113.5% during the fourth quarter. CI Investments Inc. now owns 3,414,800 shares of the financial services provider’s stock worth $177,774,000 after purchasing an additional 1,815,543 shares in the last quarter. Institutional investors own 76.08% of the company’s stock.
C has been the subject of a number of analyst reports. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. ValuEngine raised Citigroup from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Wells Fargo & Co set a $90.00 price target on Citigroup and gave the stock a “buy” rating in a report on Friday, May 3rd. Bank of America set a $77.00 price target on Citigroup and gave the stock a “buy” rating in a report on Monday. Finally, Morgan Stanley boosted their price target on Citigroup from $76.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.39.
Citigroup stock opened at $67.08 on Friday. The firm has a market capitalization of $154.50 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 0.72 and a beta of 1.72. Citigroup Inc has a 52 week low of $48.42 and a 52 week high of $75.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.36.
Citigroup (NYSE:C) last released its earnings results on Monday, April 15th. The financial services provider reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The firm had revenue of $18.58 billion during the quarter, compared to analyst estimates of $18.56 billion. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 earnings per share. Research analysts predict that Citigroup Inc will post 7.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a $0.45 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.80 annualized dividend and a yield of 2.68%. Citigroup’s payout ratio is currently 27.07%.
In related news, CEO Stephen Bird sold 30,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $69.33, for a total value of $2,079,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.
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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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