Norway Savings Bank Sells 1,253 Shares of Citigroup Inc. (NYSE:C)

Norway Savings Bank reduced its stake in Citigroup Inc. (NYSE:C) by 23.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,005 shares of the company’s stock after selling 1,253 shares during the quarter. Norway Savings Bank’s holdings in Citigroup were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fisher Asset Management LLC increased its position in shares of Citigroup by 8.0% during the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock valued at $1,273,411,000 after acquiring an additional 1,836,283 shares in the last quarter. Putnam Investments LLC increased its holdings in shares of Citigroup by 7.9% in the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after purchasing an additional 1,300,520 shares in the last quarter. Norges Bank purchased a new position in shares of Citigroup in the fourth quarter worth $867,599,000. Pzena Investment Management LLC lifted its holdings in shares of Citigroup by 1.3% during the fourth quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock valued at $866,797,000 after purchasing an additional 223,206 shares in the last quarter. Finally, Greenhaven Associates Inc. boosted its position in shares of Citigroup by 22.4% during the fourth quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock valued at $828,868,000 after buying an additional 2,948,512 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on C. HSBC boosted their target price on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Citigroup in a research note on Thursday, June 20th. Jefferies Financial Group raised their price target on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Oppenheimer reduced their price objective on Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.03.

Citigroup Price Performance

NYSE:C opened at $63.46 on Friday. The business’s 50-day simple moving average is $62.06 and its two-hundred day simple moving average is $57.93. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $64.98. The stock has a market cap of $121.05 billion, a PE ratio of 18.78, a P/E/G ratio of 0.94 and a beta of 1.48. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same period in the previous year, the firm earned $1.86 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts forecast that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.34%. Citigroup’s dividend payout ratio is currently 62.72%.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.