Carnegie Capital Asset Management LLC Decreases Stake in Citigroup Inc. (NYSE:C)

Carnegie Capital Asset Management LLC reduced its position in Citigroup Inc. (NYSE:C) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,023 shares of the company’s stock after selling 305 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Citigroup were worth $413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in C. Panagora Asset Management Inc. raised its stake in Citigroup by 24.5% during the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock worth $1,589,000 after acquiring an additional 5,853 shares during the period. Zions Bancorporation N.A. increased its stake in shares of Citigroup by 50.5% in the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock valued at $334,000 after purchasing an additional 2,100 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Citigroup by 20.8% in the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock valued at $282,000 after purchasing an additional 907 shares during the period. Ergoteles LLC acquired a new stake in shares of Citigroup in the first quarter valued at approximately $761,000. Finally, Halbert Hargrove Global Advisors LLC increased its stake in shares of Citigroup by 7.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock valued at $218,000 after purchasing an additional 268 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on C shares. BMO Capital Markets lowered shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a research note on Wednesday, January 10th. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Barclays raised their price objective on shares of Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley upgraded shares of Citigroup from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $65.00 in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.91.

Citigroup Trading Up 2.0 %

Citigroup stock opened at $58.17 on Thursday. The company has a 50 day moving average price of $58.11 and a 200 day moving average price of $50.98. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $63.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $111.41 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 0.92 and a beta of 1.52.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. Research analysts forecast that Citigroup Inc. will post 5.73 EPS for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is currently 62.72%.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.