Hudson Edge Investment Partners Inc. Cuts Holdings in Citigroup Inc. $C

Hudson Edge Investment Partners Inc. lowered its stake in Citigroup Inc. (NYSE:C) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,856 shares of the company’s stock after selling 12,304 shares during the quarter. Citigroup comprises about 1.6% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its 6th biggest holding. Hudson Edge Investment Partners Inc.’s holdings in Citigroup were worth $9,628,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of C. Brookstone Capital Management lifted its stake in Citigroup by 31.5% in the 3rd quarter. Brookstone Capital Management now owns 75,914 shares of the company’s stock worth $7,705,000 after acquiring an additional 18,176 shares in the last quarter. Permanent Capital Management LP acquired a new position in shares of Citigroup in the 3rd quarter valued at about $1,238,000. Penobscot Investment Management Company Inc. lifted its position in shares of Citigroup by 61.5% in the third quarter. Penobscot Investment Management Company Inc. now owns 57,033 shares of the company’s stock worth $5,789,000 after purchasing an additional 21,720 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Citigroup by 27.2% during the third quarter. Perigon Wealth Management LLC now owns 75,566 shares of the company’s stock worth $7,670,000 after purchasing an additional 16,171 shares during the period. Finally, Keystone Financial Services acquired a new stake in shares of Citigroup during the second quarter worth approximately $216,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Up 1.0%

Citigroup stock opened at $113.88 on Thursday. Citigroup Inc. has a one year low of $55.51 and a one year high of $124.17. The company’s fifty day moving average price is $111.47 and its two-hundred day moving average price is $101.74. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market capitalization of $203.76 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.56 and a beta of 1.18.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 14th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.16. The company had revenue of $19.87 billion during the quarter, compared to the consensus estimate of $20.99 billion. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.34 EPS. On average, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.1%. Citigroup’s dividend payout ratio is presently 34.43%.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi highlights progress on strategic streamlining and stabilizing core businesses — management messaging and visible execution reassure investors about earnings quality and the turnaround plan. Citigroup Signals Stabilizing Core Businesses
• Positive Sentiment: Cost-control moves in Europe: reports that Citigroup is considering trimming fixed-pay allowances for key UK staff suggest management is pursuing expense discipline that could help margins. JPMorgan and Citigroup consider fixed pay cuts for senior UK executives
• Neutral Sentiment: CEO Jane Fraser’s public stance against a proposed 10% cap on credit-card rates reduces the perceived risk of a near-term regulatory hit to card yields and loan economics — a mixed-sign for reputation but supportive for core profitability assumptions. Reuters: Citigroup CEO does not expect Congress to approve cap
• Neutral Sentiment: Citi research calling attention to Japan bond market turmoil and risks of large Treasury selling underscores the bank’s macro research prominence (client franchise benefit) but also flags potential market volatility that could pressure trading and markets revenue. Bloomberg: JGB turmoil risks up to $130 billion Treasury selling, Citi says
• Negative Sentiment: Underlying growth mix still a concern — while Citigroup’s last reported quarter beat EPS expectations (helping sentiment), revenue missed consensus and profitability metrics remain moderate; investors may be cycling gains into the day given remaining top-line weakness and macro sensitivity. (See company quarterly results commentary in recent filings.)

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, October 8th. TD Cowen reaffirmed a “hold” rating on shares of Citigroup in a research note on Wednesday, January 7th. HSBC reissued a “buy” rating and set a $87.00 price objective on shares of Citigroup in a research report on Wednesday, January 7th. Wells Fargo & Company set a $150.00 target price on Citigroup in a research note on Monday, January 5th. Finally, The Goldman Sachs Group raised their price target on Citigroup from $113.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.56.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.