Newman Dignan & Sheerar Inc. Trims Position in Citigroup Inc (C)

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Newman Dignan & Sheerar Inc. lessened its stake in shares of Citigroup Inc (NYSE:C) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,029 shares of the financial services provider’s stock after selling 1,151 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in Citigroup were worth $522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in C. FMR LLC boosted its position in shares of Citigroup by 2.1% during the 2nd quarter. FMR LLC now owns 107,588,759 shares of the financial services provider’s stock valued at $7,199,839,000 after acquiring an additional 2,247,392 shares during the last quarter. Andra AP fonden raised its holdings in shares of Citigroup by 19.0% during the 2nd quarter. Andra AP fonden now owns 64,500 shares of the financial services provider’s stock valued at $4,316,000 after buying an additional 10,300 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Citigroup by 31.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 128,863 shares of the financial services provider’s stock valued at $8,624,000 after buying an additional 30,550 shares in the last quarter. United Services Automobile Association raised its holdings in shares of Citigroup by 0.6% during the 2nd quarter. United Services Automobile Association now owns 1,619,901 shares of the financial services provider’s stock valued at $108,404,000 after buying an additional 9,324 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in shares of Citigroup by 5.1% during the 3rd quarter. Fulton Bank N.A. now owns 28,109 shares of the financial services provider’s stock valued at $2,016,000 after buying an additional 1,358 shares in the last quarter. 73.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of C traded up $1.85 during mid-day trading on Friday, hitting $64.27. 17,908,634 shares of the company’s stock traded hands, compared to its average volume of 18,971,215. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 0.99. Citigroup Inc has a 1 year low of $48.42 and a 1 year high of $78.42. The stock has a market capitalization of $165.18 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.79 and a beta of 1.67.

Citigroup (NYSE:C) last posted its earnings results on Monday, January 14th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.06. Citigroup had a return on equity of 9.93% and a net margin of 18.58%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.57 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. Research analysts forecast that Citigroup Inc will post 7.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Monday, February 4th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 1st. This represents a $1.80 annualized dividend and a dividend yield of 2.80%. Citigroup’s dividend payout ratio (DPR) is presently 27.07%.

In related news, insider W. Bradford Hu sold 5,420 shares of Citigroup stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $64.27, for a total transaction of $348,343.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael Whitaker sold 7,000 shares of Citigroup stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total value of $442,680.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

A number of equities analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Citigroup to $64.00 and gave the company a “hold” rating in a report on Tuesday, January 15th. Zacks Investment Research raised Citigroup from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Thursday, November 29th. Morgan Stanley decreased their price target on Citigroup from $81.00 to $76.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 8th. Standpoint Research cut Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Finally, TheStreet raised Citigroup from a “c+” rating to a “b” rating in a research note on Friday, January 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $76.80.

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Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

See Also: Understanding Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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