Northern Oak Wealth Management Inc. Increases Position in Citigroup Inc (NYSE:C)

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Northern Oak Wealth Management Inc. raised its stake in shares of Citigroup Inc (NYSE:C) by 46.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 155,146 shares of the financial services provider’s stock after acquiring an additional 49,140 shares during the period. Citigroup makes up approximately 1.6% of Northern Oak Wealth Management Inc.’s holdings, making the stock its 11th biggest position. Northern Oak Wealth Management Inc.’s holdings in Citigroup were worth $11,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of C. Laurel Wealth Advisors Inc. grew its stake in shares of Citigroup by 6.5% during the third quarter. Laurel Wealth Advisors Inc. now owns 19,413 shares of the financial services provider’s stock worth $1,391,000 after acquiring an additional 1,181 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its position in Citigroup by 5.5% in the third quarter. Stonebridge Capital Advisors LLC now owns 54,087 shares of the financial services provider’s stock valued at $3,880,000 after buying an additional 2,825 shares during the last quarter. Lowe Brockenbrough & Co. Inc. purchased a new stake in Citigroup in the third quarter valued at approximately $237,000. Virginia National Bank purchased a new stake in Citigroup in the third quarter valued at approximately $913,000. Finally, Putnam Investments LLC boosted its position in Citigroup by 0.4% in the third quarter. Putnam Investments LLC now owns 9,141,339 shares of the financial services provider’s stock valued at $655,800,000 after buying an additional 36,472 shares during the last quarter. Institutional investors and hedge funds own 72.67% of the company’s stock.

Shares of C traded down $0.15 during trading hours on Tuesday, hitting $55.46. 18,063,845 shares of the stock were exchanged, compared to its average volume of 21,148,318. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.00 and a current ratio of 1.00. Citigroup Inc has a 12-month low of $48.42 and a 12-month high of $80.70. The stock has a market capitalization of $141.69 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.64 and a beta of 1.56.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.07. Citigroup had a positive return on equity of 9.42% and a negative net margin of 4.81%. The firm had revenue of $18.39 billion during the quarter, compared to analysts’ expectations of $18.43 billion. During the same period in the previous year, the business earned $1.42 earnings per share. On average, analysts predict that Citigroup Inc will post 6.65 earnings per share for the current year.

A number of brokerages recently commented on C. Zacks Investment Research lowered Citigroup from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Wells Fargo & Co lowered Citigroup to a “buy” rating in a research report on Friday. Finally, Morgan Stanley dropped their target price on Citigroup from $81.00 to $76.00 and set an “overweight” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $79.52.

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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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