Carret Asset Management LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 38.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,585 shares of the financial services provider’s stock after buying an additional 12,150 shares during the period. Carret Asset Management LLC’s holdings in Citigroup were worth $2,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Endurance Wealth Management Inc. boosted its stake in Citigroup by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock worth $588,000 after buying an additional 25 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in Citigroup by 0.8% in the first quarter. Clear Harbor Asset Management LLC now owns 4,991 shares of the financial services provider’s stock worth $299,000 after buying an additional 38 shares during the last quarter. Norway Savings Bank boosted its stake in Citigroup by 0.3% in the first quarter. Norway Savings Bank now owns 13,675 shares of the financial services provider’s stock worth $818,000 after buying an additional 45 shares during the last quarter. Perritt Capital Management Inc. boosted its stake in Citigroup by 0.7% in the fourth quarter. Perritt Capital Management Inc. now owns 6,887 shares of the financial services provider’s stock worth $409,000 after buying an additional 50 shares during the last quarter. Finally, Cypress Wealth Advisors LLC boosted its stake in Citigroup by 1.1% in the fourth quarter. Cypress Wealth Advisors LLC now owns 4,879 shares of the financial services provider’s stock worth $290,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 74.75% of the company’s stock.

Shares of Citigroup Inc. (C) traded down 1.40% on Thursday, hitting $68.13. The company’s stock had a trading volume of 20,935,491 shares. Citigroup Inc. has a 52 week low of $42.86 and a 52 week high of $69.62. The stock has a market capitalization of $185.62 billion, a P/E ratio of 13.57 and a beta of 1.48. The stock’s 50 day moving average price is $66.26 and its 200 day moving average price is $61.34.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. On average, analysts forecast that Citigroup Inc. will post $5.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 7th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is currently 12.77%.

Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that permits the company to buyback $15.60 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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C has been the subject of several recent analyst reports. Credit Suisse Group reissued an “outperform” rating and issued a $76.00 price target (up from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. BidaskClub cut Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $66.78 price objective for the company in a research note on Monday, April 10th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a research note on Monday, July 3rd. Finally, HSBC Holdings plc assumed coverage on Citigroup in a research note on Tuesday, July 11th. They issued a “hold” rating and a $71.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $68.03.

Citigroup Company Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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