Northwestern Mutual Wealth Management Co. lowered its stake in shares of Citigroup Inc (NYSE:C) by 57.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,200 shares of the financial services provider’s stock after selling 192,854 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Citigroup were worth $6,116,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stonebridge Financial Planning Group LLC purchased a new stake in Citigroup in the 4th quarter valued at approximately $32,000. Horizon Bancorp Inc. IN purchased a new stake in Citigroup in the 4th quarter valued at approximately $40,000. Engrave Wealth Partners LLC purchased a new stake in Citigroup in the 4th quarter valued at approximately $39,000. Virtus ETF Advisers LLC purchased a new stake in Citigroup in the 4th quarter valued at approximately $42,000. Finally, Americana Partners LLC purchased a new stake in Citigroup in the 4th quarter valued at approximately $42,000. 78.58% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on C shares. Oppenheimer cut their price objective on Citigroup from $93.00 to $87.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. UBS Group lifted their price objective on Citigroup from $50.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Argus upgraded Citigroup from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, April 20th. They noted that the move was a valuation call. BMO Capital Markets cut their price objective on Citigroup from $71.00 to $67.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Finally, Piper Sandler cut their price objective on Citigroup from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.68.
Shares of NYSE C opened at $44.10 on Friday. Citigroup Inc has a 52-week low of $32.00 and a 52-week high of $83.11. The firm has a fifty day moving average of $43.88 and a 200-day moving average of $64.42. The stock has a market capitalization of $93.68 billion, a PE ratio of 6.11, a P/E/G ratio of 1.41 and a beta of 1.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.52.
Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.16. Citigroup had a net margin of 16.56% and a return on equity of 9.15%. The company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $18.98 billion. During the same period in the previous year, the company earned $1.87 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc will post 3.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.04 annualized dividend and a dividend yield of 4.63%. Citigroup’s dividend payout ratio is presently 26.91%.
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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