Cigna Investments Inc. New increased its stake in shares of Citigroup Inc (NYSE:C) by 5.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 61,316 shares of the financial services provider’s stock after buying an additional 3,295 shares during the period. Cigna Investments Inc. New’s holdings in Citigroup were worth $2,582,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of C. Stonebridge Financial Planning Group LLC acquired a new position in Citigroup during the 4th quarter valued at about $32,000. Horizon Bancorp Inc. IN acquired a new position in Citigroup during the 4th quarter valued at about $40,000. Engrave Wealth Partners LLC acquired a new position in Citigroup during the 4th quarter valued at about $39,000. Virtus ETF Advisers LLC acquired a new position in Citigroup during the 4th quarter valued at about $42,000. Finally, Americana Partners LLC acquired a new position in Citigroup during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 78.58% of the company’s stock.
C has been the topic of a number of research reports. Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. Argus raised Citigroup from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, April 20th. They noted that the move was a valuation call. Morgan Stanley lowered their price target on Citigroup from $63.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Oppenheimer lowered their price target on Citigroup from $93.00 to $87.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Finally, Cfra raised Citigroup from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $77.68.
NYSE:C traded down $0.90 during trading hours on Friday, reaching $44.10. 22,624,031 shares of the stock were exchanged, compared to its average volume of 29,626,596. Citigroup Inc has a twelve month low of $32.00 and a twelve month high of $83.11. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day moving average of $43.88 and a 200 day moving average of $64.42. The stock has a market cap of $93.68 billion, a PE ratio of 6.11, a PEG ratio of 1.41 and a beta of 1.83.
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, topping analysts’ consensus estimates of $0.89 by $0.16. Citigroup had a return on equity of 9.15% and a net margin of 16.56%. The firm had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $18.98 billion. During the same quarter in the prior year, the firm posted $1.87 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc will post 3.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Friday, May 1st. Citigroup’s payout ratio is presently 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).
Featured Article: Why is the conference call important?
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.