Hodges Capital Management Inc. Decreases Stake in Citigroup Inc (NYSE:C)

Hodges Capital Management Inc. lowered its position in Citigroup Inc (NYSE:C) by 69.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,966 shares of the financial services provider’s stock after selling 13,795 shares during the period. Hodges Capital Management Inc.’s holdings in Citigroup were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in C. Bank of New York Mellon Corp raised its holdings in shares of Citigroup by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 35,615,758 shares of the financial services provider’s stock worth $1,819,963,000 after acquiring an additional 1,711,353 shares during the period. Sanders Capital LLC raised its holdings in shares of Citigroup by 52.0% during the 2nd quarter. Sanders Capital LLC now owns 19,635,229 shares of the financial services provider’s stock worth $1,108,724,000 after acquiring an additional 6,714,645 shares during the period. Morgan Stanley raised its holdings in shares of Citigroup by 4.6% during the 1st quarter. Morgan Stanley now owns 14,670,219 shares of the financial services provider’s stock worth $617,909,000 after acquiring an additional 650,874 shares during the period. Nordea Investment Management AB raised its holdings in shares of Citigroup by 123.8% during the 2nd quarter. Nordea Investment Management AB now owns 13,113,214 shares of the financial services provider’s stock worth $658,414,000 after acquiring an additional 7,254,912 shares during the period. Finally, Public Investment Fund purchased a new position in shares of Citigroup during the 1st quarter worth $521,979,000. Institutional investors own 75.57% of the company’s stock.

In related news, Director Gary M. Reiner sold 485 shares of Citigroup stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $102.74, for a total transaction of $49,828.90. Following the sale, the director now directly owns 4,462 shares in the company, valued at approximately $458,425.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Shares of C opened at $43.19 on Friday. Citigroup Inc has a twelve month low of $32.00 and a twelve month high of $83.11. The firm’s fifty day simple moving average is $46.81 and its 200-day simple moving average is $48.19. The firm has a market capitalization of $89.92 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 1.24 and a beta of 1.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.60.

Citigroup (NYSE:C) last announced its quarterly earnings data on Monday, October 19th. The financial services provider reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.39. Citigroup had a net margin of 13.64% and a return on equity of 7.40%. The business had revenue of $17.30 billion for the quarter, compared to analyst estimates of $17.18 billion. During the same period last year, the business earned $1.97 EPS. The company’s revenue was down 6.9% on a year-over-year basis. On average, analysts predict that Citigroup Inc will post 3.52 earnings per share for the current fiscal year.

A number of research analysts have commented on C shares. JPMorgan Chase & Co. cut shares of Citigroup from an “overweight” rating to a “neutral” rating and set a $57.50 target price on the stock. in a research report on Thursday, October 8th. Wells Fargo & Company lowered their price objective on shares of Citigroup from $72.00 to $66.00 and set an “overweight” rating for the company in a research report on Tuesday, September 15th. They noted that the move was a valuation call. Berenberg Bank increased their price objective on shares of Citigroup from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. ValuEngine cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Friday, August 21st. Finally, Seaport Global Securities assumed coverage on shares of Citigroup in a research report on Wednesday, July 8th. They set a “buy” rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $69.40.

Citigroup Company Profile

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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