Norway Savings Bank Boosts Holdings in Citigroup Inc (NYSE:C)

Norway Savings Bank raised its holdings in shares of Citigroup Inc (NYSE:C) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,114 shares of the financial services provider’s stock after acquiring an additional 750 shares during the quarter. Citigroup makes up 1.1% of Norway Savings Bank’s investment portfolio, making the stock its 28th largest position. Norway Savings Bank’s holdings in Citigroup were worth $1,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Simon Quick Advisors LLC increased its holdings in Citigroup by 268.7% in the fourth quarter. Simon Quick Advisors LLC now owns 365 shares of the financial services provider’s stock worth $29,000 after buying an additional 266 shares during the last quarter. Garrett Wealth Advisory Group LLC bought a new position in Citigroup in the third quarter worth $33,000. Allred Capital Management LLC bought a new position in Citigroup in the fourth quarter worth $35,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Citigroup by 284.0% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 576 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 426 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in Citigroup by 15.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 562,430 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 74,950 shares in the last quarter. Institutional investors and hedge funds own 76.95% of the company’s stock.

C traded down $0.28 during midday trading on Thursday, reaching $80.96. 7,452,981 shares of the company were exchanged, compared to its average volume of 11,701,934. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.00 and a current ratio of 1.00. Citigroup Inc has a one year low of $60.05 and a one year high of $83.11. The stock has a market capitalization of $178.83 billion, a P/E ratio of 10.68, a PEG ratio of 0.85 and a beta of 1.81. The stock’s 50-day simple moving average is $77.88 and its 200 day simple moving average is $71.71.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $1.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.04. Citigroup had a return on equity of 10.28% and a net margin of 18.75%. The business had revenue of $18.38 billion for the quarter, compared to analysts’ expectations of $17.95 billion. During the same quarter in the previous year, the business posted $1.64 EPS. Citigroup’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts anticipate that Citigroup Inc will post 8.51 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.52%. Citigroup’s dividend payout ratio (DPR) is presently 26.91%.

C has been the subject of a number of research reports. Deutsche Bank lowered Citigroup from a “buy” rating to a “hold” rating and raised their target price for the company from $84.00 to $88.00 in a research note on Monday, January 6th. DA Davidson lifted their price objective on Citigroup from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on Citigroup from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on Citigroup from $95.00 to $97.00 and gave the stock an “average” rating in a research report on Wednesday. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $84.00 price objective on shares of Citigroup in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. Citigroup presently has a consensus rating of “Buy” and an average target price of $88.87.

About Citigroup

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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