Silvercrest Asset Management Group LLC grew its stake in Citigroup Inc (NYSE:C) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,501,264 shares of the financial services provider’s stock after purchasing an additional 40,479 shares during the period. Citigroup comprises approximately 1.0% of Silvercrest Asset Management Group LLC’s investment portfolio, making the stock its 16th largest holding. Silvercrest Asset Management Group LLC owned 0.06% of Citigroup worth $101,335,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in C. ValueAct Holdings L.P. acquired a new stake in shares of Citigroup in the 4th quarter worth $81,851,000. MetLife Investment Advisors LLC purchased a new position in Citigroup during the 4th quarter valued at about $60,873,000. Synovus Financial Corp boosted its holdings in Citigroup by 38.8% during the 4th quarter. Synovus Financial Corp now owns 135,424 shares of the financial services provider’s stock valued at $10,074,000 after acquiring an additional 37,843 shares during the period. CNB Bank boosted its holdings in Citigroup by 27.5% during the 1st quarter. CNB Bank now owns 7,419 shares of the financial services provider’s stock valued at $501,000 after acquiring an additional 1,601 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its holdings in Citigroup by 0.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 329,314 shares of the financial services provider’s stock valued at $24,504,000 after acquiring an additional 1,986 shares during the period. Institutional investors and hedge funds own 76.67% of the company’s stock.
Several equities analysts have recently issued reports on C shares. Vining Sparks upgraded Citigroup to a “buy” rating and set a $80.00 price objective for the company in a research note on Friday, April 6th. Morgan Stanley boosted their target price on Citigroup from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, March 15th. HSBC upgraded Citigroup from a “hold” rating to a “buy” rating and boosted their target price for the stock from $82.00 to $85.00 in a research note on Wednesday, April 11th. TheStreet cut Citigroup from a “b-” rating to a “c+” rating in a research note on Tuesday, March 27th. Finally, Zacks Investment Research lowered Citigroup from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. Citigroup currently has a consensus rating of “Hold” and an average target price of $81.37.
Shares of Citigroup opened at $67.29 on Thursday, according to Marketbeat. The stock has a market capitalization of $175.05 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 0.99 and a beta of 1.51. Citigroup Inc has a one year low of $63.16 and a one year high of $80.70. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.30.
Citigroup (NYSE:C) last released its earnings results on Friday, April 13th. The financial services provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.07. Citigroup had a positive return on equity of 8.13% and a negative net margin of 6.28%. The company had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $18.89 billion. During the same quarter last year, the business posted $1.35 EPS. Citigroup’s quarterly revenue was up 2.8% compared to the same quarter last year. research analysts anticipate that Citigroup Inc will post 6.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Monday, May 7th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, May 4th. Citigroup’s dividend payout ratio (DPR) is 24.02%.
In other news, CFO John C. Gerspach sold 12,966 shares of Citigroup stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $72.31, for a total transaction of $937,571.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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