Cornercap Investment Counsel Inc. Reduces Stake in Citigroup (C)

Cornercap Investment Counsel Inc. decreased its position in shares of Citigroup (NYSE:C) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,019 shares of the financial services provider’s stock after selling 4,942 shares during the quarter. Citigroup makes up about 1.0% of Cornercap Investment Counsel Inc.’s portfolio, making the stock its 11th biggest holding. Cornercap Investment Counsel Inc.’s holdings in Citigroup were worth $7,220,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC boosted its position in shares of Citigroup by 1.8% during the 2nd quarter. Advisory Services Network LLC now owns 14,914 shares of the financial services provider’s stock valued at $997,000 after acquiring an additional 260 shares during the last quarter. Linscomb & Williams Inc. lifted its position in Citigroup by 8.0% in the fourth quarter. Linscomb & Williams Inc. now owns 8,787 shares of the financial services provider’s stock valued at $654,000 after buying an additional 654 shares during the last quarter. Pillar Pacific Capital Management LLC lifted its position in Citigroup by 0.6% in the fourth quarter. Pillar Pacific Capital Management LLC now owns 119,037 shares of the financial services provider’s stock valued at $8,857,000 after buying an additional 660 shares during the last quarter. Logan Capital Management Inc. lifted its position in Citigroup by 20.0% in the fourth quarter. Logan Capital Management Inc. now owns 4,124 shares of the financial services provider’s stock valued at $307,000 after buying an additional 687 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC lifted its position in Citigroup by 4.2% in the third quarter. Balasa Dinverno & Foltz LLC now owns 17,032 shares of the financial services provider’s stock valued at $1,239,000 after buying an additional 690 shares during the last quarter. 80.16% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of NYSE:C opened at $67.50 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $173,479.45, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 0.98 and a beta of 1.51. Citigroup has a 1 year low of $57.55 and a 1 year high of $80.70.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.09. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $17.23 billion. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.61%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. analysts anticipate that Citigroup will post 6.39 EPS for the current fiscal year.

C has been the topic of a number of recent analyst reports. ValuEngine raised shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Barclays upped their target price on shares of Citigroup from $76.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Vertical Group cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Jefferies Group reaffirmed a “hold” rating and issued a $83.00 target price on shares of Citigroup in a research report on Tuesday, January 16th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $86.00 target price on shares of Citigroup in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $79.69.

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Citigroup Profile

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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