Beach Investment Counsel Inc. PA reduced its stake in shares of Citigroup Inc. (NYSE:C) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,562 shares of the financial services provider’s stock after selling 25,774 shares during the period. Citigroup makes up approximately 1.1% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 26th largest position. Beach Investment Counsel Inc. PA’s holdings in Citigroup were worth $9,392,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Sterneck Capital Management LLC increased its stake in shares of Citigroup by 6.6% in the first quarter. Sterneck Capital Management LLC now owns 44,056 shares of the financial services provider’s stock valued at $1,839,000 after buying an additional 2,739 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Citigroup during the first quarter valued at $23,656,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Citigroup during the first quarter valued at $282,000. Phocas Financial Corp. increased its stake in shares of Citigroup by 46.3% in the first quarter. Phocas Financial Corp. now owns 177,294 shares of the financial services provider’s stock valued at $7,402,000 after buying an additional 56,098 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of Citigroup by 14.5% in the first quarter. Squarepoint Ops LLC now owns 53,764 shares of the financial services provider’s stock valued at $2,245,000 after buying an additional 6,813 shares in the last quarter. Hedge funds and other institutional investors own 72.41% of the company’s stock.
Shares of Citigroup Inc. (NYSE:C) opened at 52.83 on Monday. The firm’s 50 day moving average is $48.92 and its 200-day moving average is $45.95. Citigroup Inc. has a 52 week low of $34.52 and a 52 week high of $55.37. The firm has a market cap of $150.55 billion, a price-to-earnings ratio of 11.49 and a beta of 1.74.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. The business earned $17.80 billion during the quarter, compared to the consensus estimate of $17.32 billion. Citigroup had a net margin of 17.58% and a return on equity of 7.04%. Citigroup’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. Equities research analysts predict that Citigroup Inc. will post $4.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 7th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 13.91%.
C has been the topic of several research analyst reports. Morgan Stanley raised shares of Citigroup from an “equal weight” rating to an “overweight” rating in a research report on Monday. Vetr cut shares of Citigroup from a “hold” rating to a “sell” rating and set a $48.96 target price on the stock. in a report on Wednesday, November 9th. Argus reissued a “hold” rating on shares of Citigroup in a report on Monday, July 18th. Nomura reissued a “buy” rating and issued a $57.00 target price (down previously from $62.00) on shares of Citigroup in a report on Monday, July 18th. Finally, Barclays PLC reissued a “buy” rating on shares of Citigroup in a report on Monday, July 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.40.
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.