Ferguson Wellman Capital Management Inc. Raises Position in Citigroup Inc (C)
Ferguson Wellman Capital Management Inc. boosted its stake in Citigroup Inc (NYSE:C) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 437,826 shares of the financial services provider’s stock after purchasing an additional 6,728 shares during the period. Citigroup comprises about 1.0% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 28th largest holding. Ferguson Wellman Capital Management Inc.’s holdings in Citigroup were worth $29,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of C. ValueAct Holdings L.P. lifted its stake in Citigroup by 1,372.7% in the 1st quarter. ValueAct Holdings L.P. now owns 16,200,000 shares of the financial services provider’s stock valued at $1,093,500,000 after purchasing an additional 15,100,000 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Citigroup in the 1st quarter valued at approximately $93,899,000. Summit Trail Advisors LLC increased its position in Citigroup by 5,933.7% in the 1st quarter. Summit Trail Advisors LLC now owns 1,103,074 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 1,084,792 shares during the period. Toronto Dominion Bank increased its position in Citigroup by 89.9% in the 1st quarter. Toronto Dominion Bank now owns 1,926,828 shares of the financial services provider’s stock valued at $130,033,000 after acquiring an additional 912,012 shares during the period. Finally, Mackay Shields LLC acquired a new position in Citigroup in the 1st quarter valued at approximately $56,677,000. 74.82% of the stock is owned by institutional investors and hedge funds.
C has been the subject of several recent research reports. Deutsche Bank upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Wednesday, June 20th. TheStreet upgraded shares of Citigroup from a “c” rating to a “b-” rating in a research report on Monday, July 30th. ValuEngine cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Morgan Stanley decreased their price target on shares of Citigroup from $88.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, July 16th. Finally, Daiwa Capital Markets cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price target for the company. in a research report on Thursday, May 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $81.65.
C opened at $71.46 on Friday. Citigroup Inc has a twelve month low of $64.38 and a twelve month high of $80.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm has a market cap of $186.02 billion, a PE ratio of 12.06, a PEG ratio of 0.98 and a beta of 1.49.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.08. Citigroup had a negative net margin of 5.45% and a positive return on equity of 8.78%. The company had revenue of $18.47 billion during the quarter, compared to analysts’ expectations of $18.43 billion. research analysts anticipate that Citigroup Inc will post 6.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Monday, August 6th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.32. This represents a $1.80 annualized dividend and a yield of 2.52%. Citigroup’s dividend payout ratio is currently 33.77%.
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.
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