Atalanta Sosnoff Capital LLC Sells 597,741 Shares of Citigroup Inc. (NYSE:C)

Atalanta Sosnoff Capital LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 94.5% in the 1st quarter, HoldingsChannel reports. The fund owned 34,973 shares of the company’s stock after selling 597,741 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Citigroup were worth $2,544,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Intersect Capital LLC lifted its position in shares of Citigroup by 7.3% during the 1st quarter. Intersect Capital LLC now owns 12,246 shares of the company’s stock valued at $891,000 after buying an additional 835 shares during the last quarter. Legacy Wealth Asset Management LLC increased its stake in Citigroup by 1.2% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 12,642 shares of the company’s stock worth $920,000 after acquiring an additional 146 shares during the last quarter. Murphy Pohlad Asset Management LLC increased its stake in Citigroup by 4.9% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 55,272 shares of the company’s stock worth $4,021,000 after acquiring an additional 2,600 shares during the last quarter. Allied Investment Advisors LLC increased its stake in Citigroup by 8.2% in the 1st quarter. Allied Investment Advisors LLC now owns 4,970 shares of the company’s stock worth $362,000 after acquiring an additional 375 shares during the last quarter. Finally, Great Valley Advisor Group Inc. increased its position in shares of Citigroup by 156.7% during the 1st quarter. Great Valley Advisor Group Inc. now owns 14,182 shares of the company’s stock valued at $1,032,000 after purchasing an additional 8,657 shares during the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.

Several equities research analysts recently weighed in on C shares. Wells Fargo & Company increased their target price on Citigroup from $74.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, March 8th. Royal Bank of Canada increased their price objective on Citigroup from $66.00 to $73.00 and gave the stock an “outperform” rating in a report on Tuesday, January 19th. DA Davidson raised their target price on Citigroup from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, January 19th. Daiwa Capital Markets started coverage on Citigroup in a research note on Wednesday, January 6th. They issued a “buy” rating and a $75.00 target price for the company. Finally, TheStreet raised Citigroup from a “c” rating to a “b” rating in a research report on Friday, January 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Citigroup has an average rating of “Buy” and an average price target of $74.72.

C traded up $1.32 during trading on Friday, reaching $71.13. The company’s stock had a trading volume of 384,857 shares, compared to its average volume of 20,183,508. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.50. The firm has a fifty day simple moving average of $72.44 and a two-hundred day simple moving average of $60.36. Citigroup Inc. has a 1 year low of $38.76 and a 1 year high of $76.13. The company has a market cap of $148.43 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.25 and a beta of 1.95.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, April 14th. The company reported $3.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.60 by $1.02. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.34 billion. Citigroup had a net margin of 13.17% and a return on equity of 6.63%. The business’s revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 EPS. As a group, equities analysts forecast that Citigroup Inc. will post 6.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Monday, May 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 30th. This represents a $2.04 annualized dividend and a yield of 2.87%. Citigroup’s dividend payout ratio is presently 41.80%.

Citigroup Company Profile

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).

Further Reading: P/E Growth (PEG)

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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