Laidlaw Wealth Management LLC lowered its position in Citigroup Inc. (NYSE:C – Get Rating) by 15.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,121 shares of the company’s stock after selling 918 shares during the period. Laidlaw Wealth Management LLC’s holdings in Citigroup were worth $273,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Connable Office Inc. lifted its stake in shares of Citigroup by 0.3% in the fourth quarter. Connable Office Inc. now owns 57,976 shares of the company’s stock worth $3,501,000 after buying an additional 196 shares during the last quarter. Keudell Morrison Wealth Management grew its position in shares of Citigroup by 3.0% in the first quarter. Keudell Morrison Wealth Management now owns 6,838 shares of the company’s stock valued at $365,000 after purchasing an additional 199 shares during the last quarter. Family Legacy Inc. increased its stake in shares of Citigroup by 3.9% in the first quarter. Family Legacy Inc. now owns 5,383 shares of the company’s stock worth $287,000 after purchasing an additional 204 shares during the period. Grandview Asset Management LLC lifted its position in shares of Citigroup by 3.4% during the 1st quarter. Grandview Asset Management LLC now owns 6,184 shares of the company’s stock worth $330,000 after purchasing an additional 204 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in Citigroup by 6.3% during the 1st quarter. Rosenberg Matthew Hamilton now owns 3,572 shares of the company’s stock valued at $191,000 after purchasing an additional 212 shares during the period. Institutional investors own 71.46% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on C shares. Piper Sandler cut their price target on Citigroup from $70.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Barclays dropped their price objective on shares of Citigroup from $67.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Wells Fargo & Company reduced their target price on shares of Citigroup from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Morgan Stanley lowered their price target on Citigroup from $57.00 to $46.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 12th. Finally, Cfra reiterated a “buy” rating and issued a $62.00 price objective on shares of Citigroup in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Citigroup has an average rating of “Hold” and an average price target of $62.95.
Citigroup Stock Performance
Citigroup (NYSE:C – Get Rating) last posted its quarterly earnings data on Friday, July 15th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.63. The firm had revenue of $19.64 billion for the quarter, compared to the consensus estimate of $18.32 billion. Citigroup had a return on equity of 10.25% and a net margin of 20.06%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.84 EPS. On average, equities analysts forecast that Citigroup Inc. will post 7.39 earnings per share for the current fiscal year.
Citigroup Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 1st were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $2.04 dividend on an annualized basis and a yield of 4.18%. Citigroup’s payout ratio is presently 26.09%.
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).
- Get a free copy of the StockNews.com research report on Citigroup (C)
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