Northwestern Mutual Wealth Management Co. cut its stake in Citigroup Inc (NYSE:C) by 57.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,200 shares of the financial services provider’s stock after selling 192,854 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Citigroup were worth $6,116,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Lenox Wealth Management Inc. boosted its holdings in Citigroup by 71.6% during the first quarter. Lenox Wealth Management Inc. now owns 647 shares of the financial services provider’s stock worth $27,000 after buying an additional 270 shares in the last quarter. Stonebridge Financial Planning Group LLC bought a new stake in Citigroup during the fourth quarter worth approximately $32,000. Larson Financial Group LLC boosted its holdings in Citigroup by 47.1% during the first quarter. Larson Financial Group LLC now owns 756 shares of the financial services provider’s stock worth $32,000 after buying an additional 242 shares in the last quarter. Wealth Quarterback LLC bought a new stake in Citigroup during the fourth quarter worth approximately $37,000. Finally, Engrave Wealth Partners LLC bought a new stake in Citigroup during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Several brokerages recently commented on C. Deutsche Bank restated a “neutral” rating and issued a $61.00 price target (down previously from $81.00) on shares of Citigroup in a research report on Thursday, April 2nd. UBS Group upped their price target on shares of Citigroup from $50.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Cfra upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Monday, March 2nd. Morgan Stanley reduced their price target on shares of Citigroup from $63.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Finally, Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $77.68.
C stock opened at $44.10 on Friday. Citigroup Inc has a 12-month low of $32.00 and a 12-month high of $83.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.52. The company has a market cap of $93.68 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 1.41 and a beta of 1.83. The company has a 50 day moving average of $43.88 and a two-hundred day moving average of $64.42.
Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $18.98 billion. Citigroup had a net margin of 16.56% and a return on equity of 9.15%. Citigroup’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 EPS. On average, research analysts anticipate that Citigroup Inc will post 3.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.63%. Citigroup’s dividend payout ratio is currently 26.91%.
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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