Azimuth Capital Investment Management LLC Takes Position in Citigroup Inc. (NYSE:C)

Azimuth Capital Investment Management LLC bought a new stake in Citigroup Inc. (NYSE:CGet Rating) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,488 shares of the company’s stock, valued at approximately $436,000.

Other institutional investors have also modified their holdings of the company. IFM Investors Pty Ltd raised its stake in Citigroup by 17.3% during the first quarter. IFM Investors Pty Ltd now owns 317,358 shares of the company’s stock worth $16,947,000 after acquiring an additional 46,841 shares during the period. Shell Asset Management Co. raised its stake in Citigroup by 0.9% during the first quarter. Shell Asset Management Co. now owns 65,771 shares of the company’s stock worth $3,512,000 after acquiring an additional 557 shares during the period. Waldron Private Wealth LLC raised its stake in Citigroup by 32.4% during the first quarter. Waldron Private Wealth LLC now owns 10,336 shares of the company’s stock worth $551,000 after acquiring an additional 2,528 shares during the period. Gladstone Institutional Advisory LLC raised its stake in Citigroup by 29.5% during the first quarter. Gladstone Institutional Advisory LLC now owns 17,412 shares of the company’s stock worth $930,000 after acquiring an additional 3,969 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Citigroup by 4.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 11,744 shares of the company’s stock worth $627,000 after acquiring an additional 537 shares during the period. Institutional investors and hedge funds own 71.46% of the company’s stock.

Citigroup Stock Down 2.2 %

C stock opened at $48.24 on Thursday. Citigroup Inc. has a 12 month low of $40.01 and a 12 month high of $69.11. The firm has a market cap of $93.43 billion, a PE ratio of 6.61, a P/E/G ratio of 0.72 and a beta of 1.58. The firm has a 50 day simple moving average of $45.29 and a 200 day simple moving average of $48.30. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.93 and a quick ratio of 0.93.

Citigroup (NYSE:CGet Rating) last released its earnings results on Friday, October 14th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.46 by $0.17. Citigroup had a net margin of 17.31% and a return on equity of 9.14%. The business had revenue of $18.51 billion during the quarter, compared to analyst estimates of $18.28 billion. During the same period in the prior year, the business earned $2.49 earnings per share. The business’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc. will post 7.09 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Monday, November 7th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, November 4th. Citigroup’s dividend payout ratio is presently 27.95%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on C shares. StockNews.com started coverage on shares of Citigroup in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Citigroup from $49.00 to $49.50 in a research report on Wednesday, November 2nd. Odeon Capital Group cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Citigroup from $55.00 to $52.00 and set a “hold” rating for the company in a research report on Monday, September 12th. Finally, Morgan Stanley decreased their target price on shares of Citigroup from $46.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Citigroup presently has a consensus rating of “Hold” and a consensus price target of $58.60.

Insider Activity at Citigroup

In related news, insider Citigroup Inc sold 4,614,358 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.25, for a total value of $167,270,477.50. Following the completion of the sale, the insider now owns 15,318 shares in the company, valued at approximately $555,277.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.08% of the company’s stock.

About Citigroup

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Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

Further Reading

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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