Citigroup Inc (C) Position Reduced by Busey Wealth Management
Busey Wealth Management lowered its position in shares of Citigroup Inc (NYSE:C) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,493 shares of the financial services provider’s stock after selling 2,638 shares during the period. Citigroup accounts for about 1.3% of Busey Wealth Management’s holdings, making the stock its 24th biggest position. Busey Wealth Management’s holdings in Citigroup were worth $14,591,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. South Texas Money Management Ltd. lifted its position in Citigroup by 3.1% during the first quarter. South Texas Money Management Ltd. now owns 703,685 shares of the financial services provider’s stock valued at $43,783,000 after purchasing an additional 21,096 shares during the last quarter. Steinberg Global Asset Management lifted its holdings in shares of Citigroup by 26.9% in the 1st quarter. Steinberg Global Asset Management now owns 20,857 shares of the financial services provider’s stock worth $1,408,000 after acquiring an additional 4,418 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of Citigroup by 1.5% in the 1st quarter. Hodges Capital Management Inc. now owns 17,661 shares of the financial services provider’s stock worth $1,099,000 after acquiring an additional 267 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its holdings in shares of Citigroup by 69.3% in the 1st quarter. Quantitative Systematic Strategies LLC now owns 32,877 shares of the financial services provider’s stock worth $2,046,000 after acquiring an additional 13,453 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Citigroup in the 1st quarter worth approximately $245,000. 71.30% of the stock is owned by institutional investors.
NYSE:C opened at $69.67 on Friday. Citigroup Inc has a 52 week low of $48.42 and a 52 week high of $75.24. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 0.99. The firm has a market cap of $179.06 billion, a P/E ratio of 10.48, a PEG ratio of 0.80 and a beta of 1.67.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.58%. Citigroup’s dividend payout ratio is currently 27.07%.
A number of equities research analysts have recently weighed in on C shares. Oppenheimer boosted their price objective on shares of Citigroup from $94.00 to $99.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price objective for the company in a report on Wednesday, December 26th. BMO Capital Markets upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and set a $58.90 price objective for the company in a report on Tuesday, January 15th. They noted that the move was a valuation call. Morgan Stanley lowered their price objective on shares of Citigroup from $81.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, January 8th. Finally, Macquarie upgraded shares of Citigroup from a “neutral” rating to an “outperform” rating in a report on Monday, January 7th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $80.61.
In other Citigroup news, insider Michael Whitaker sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total transaction of $442,680.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider W. Bradford Hu sold 5,420 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $64.27, for a total transaction of $348,343.40. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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