Elkfork Partners LLC Acquires 37,800 Shares of Citigroup Inc. (C)

Elkfork Partners LLC raised its position in Citigroup Inc. (NYSE:C) by 39.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,476 shares of the financial services provider’s stock after buying an additional 37,800 shares during the period. Elkfork Partners LLC’s holdings in Citigroup were worth $7,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Shields & Co. LLC increased its position in Citigroup by 1.3% in the first quarter. Wellington Shields & Co. LLC now owns 7,940 shares of the financial services provider’s stock worth $475,000 after buying an additional 100 shares during the last quarter. US Bancorp DE increased its position in Citigroup by 1.2% in the first quarter. US Bancorp DE now owns 509,127 shares of the financial services provider’s stock worth $30,456,000 after buying an additional 5,812 shares during the last quarter. NTV Asset Management LLC increased its position in Citigroup by 21.4% in the first quarter. NTV Asset Management LLC now owns 5,106 shares of the financial services provider’s stock worth $305,000 after buying an additional 900 shares during the last quarter. Pinnacle Financial Partners Inc. increased its position in Citigroup by 4.5% in the first quarter. Pinnacle Financial Partners Inc. now owns 42,914 shares of the financial services provider’s stock worth $2,567,000 after buying an additional 1,830 shares during the last quarter. Finally, Davis R M Inc. increased its position in Citigroup by 18.8% in the first quarter. Davis R M Inc. now owns 4,158 shares of the financial services provider’s stock worth $249,000 after buying an additional 658 shares during the last quarter. Institutional investors own 74.39% of the company’s stock.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

Citigroup Inc. (NYSE C) opened at 63.89 on Friday. The stock has a 50 day moving average of $61.54 and a 200 day moving average of $59.75. The firm has a market cap of $175.91 billion, a PE ratio of 12.88 and a beta of 1.48. Citigroup Inc. has a 52 week low of $38.31 and a 52 week high of $65.40.

Citigroup (NYSE:C) last released its earnings results on Thursday, April 13th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. Citigroup had a net margin of 18.55% and a return on equity of 7.38%. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.75 billion. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post $5.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Monday, May 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. Citigroup’s payout ratio is presently 12.88%.

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C has been the topic of several recent research reports. Vetr downgraded shares of Citigroup from a “buy” rating to a “hold” rating and set a $61.30 price objective on the stock. in a research report on Wednesday, February 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $63.00 price objective on shares of Citigroup in a research report on Thursday, February 23rd. Zacks Investment Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Monday, March 27th. Rafferty Capital Markets reiterated a “buy” rating and issued a $66.00 price objective on shares of Citigroup in a research report on Monday, April 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $53.00 to $69.00 in a research report on Wednesday, April 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.65.

Citigroup Company Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

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