Eaton Vance Management lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 11.2% in the first quarter, Holdings Channel.com reports. The fund owned 2,085,743 shares of the company’s stock after selling 263,337 shares during the quarter. Eaton Vance Management’s holdings in Citigroup were worth $151,738,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Wealthcare Capital Management LLC acquired a new position in Citigroup in the 1st quarter worth $29,000. First Bank & Trust lifted its position in Citigroup by 279.1% during the 1st quarter. First Bank & Trust now owns 417 shares of the company’s stock worth $30,000 after buying an additional 307 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in Citigroup during the 1st quarter worth about $36,000. Logan Capital Management Inc. bought a new stake in Citigroup during the 1st quarter worth about $37,000. Finally, Encompass Wealth Advisors LLC bought a new stake in Citigroup during the 4th quarter worth about $39,000. 75.20% of the stock is owned by institutional investors.
Several equities research analysts have commented on the stock. Wolfe Research cut shares of Citigroup from an “outperform” rating to a “peer perform” rating and set a $76.00 price target on the stock. in a research report on Monday, April 5th. They noted that the move was a valuation call. Argus upped their target price on shares of Citigroup from $74.00 to $87.00 and gave the company a “buy” rating in a report on Friday, April 16th. Piper Sandler dropped their target price on shares of Citigroup from $95.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, July 15th. JPMorgan Chase & Co. upped their target price on shares of Citigroup from $74.50 to $77.50 and gave the company a “neutral” rating in a report on Monday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Citigroup from $58.00 to $66.00 and gave the company a “hold” rating in a report on Wednesday, March 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $79.87.
Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 13th. The company reported $2.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.91. The business had revenue of $17.50 billion during the quarter, compared to the consensus estimate of $17.18 billion. Citigroup had a net margin of 27.21% and a return on equity of 12.10%. The firm’s revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, equities analysts predict that Citigroup Inc. will post 9.86 earnings per share for the current fiscal year.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Further Reading: How Buying a Call Option Works
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).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.