Springhouse Capital Management LP Takes Position in Citigroup Inc (C)

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Springhouse Capital Management LP acquired a new stake in Citigroup Inc (NYSE:C) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 237,000 shares of the financial services provider’s stock, valued at approximately $12,338,000. Citigroup comprises approximately 6.0% of Springhouse Capital Management LP’s portfolio, making the stock its 5th biggest position.

A number of other institutional investors have also made changes to their positions in the business. Evolution Wealth Advisors LLC purchased a new stake in Citigroup in the fourth quarter valued at about $29,000. Larson Financial Group LLC purchased a new stake in shares of Citigroup in the 4th quarter valued at $29,000. Signet Investment Advisory Group Inc. purchased a new stake in shares of Citigroup in the 4th quarter valued at $32,000. Blume Capital Management Inc. raised its holdings in shares of Citigroup by 4,615.4% in the 4th quarter. Blume Capital Management Inc. now owns 613 shares of the financial services provider’s stock valued at $32,000 after buying an additional 600 shares during the period. Finally, Acima Private Wealth LLC purchased a new stake in shares of Citigroup in the 4th quarter valued at $33,000. 71.30% of the stock is currently owned by institutional investors.

NYSE:C opened at $65.06 on Thursday. The stock has a market cap of $167.21 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.81 and a beta of 1.67. Citigroup Inc has a 1 year low of $48.42 and a 1 year high of $75.24. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.30.

Citigroup (NYSE:C) last announced its earnings results on Monday, January 14th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.57 billion. Citigroup had a return on equity of 9.93% and a net margin of 18.58%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. As a group, research analysts forecast that Citigroup Inc will post 7.43 earnings per share for the current year.

Several research analysts recently commented on C shares. Jefferies Financial Group boosted their target price on Citigroup to $64.00 and gave the stock a “hold” rating in a research note on Tuesday, January 15th. HSBC set a $76.00 target price on Citigroup and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley lowered their target price on Citigroup from $81.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, January 8th. Zacks Investment Research raised Citigroup from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Monday, March 18th. Finally, Standpoint Research cut Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. Citigroup has a consensus rating of “Buy” and an average target price of $77.74.

In related news, insider W. Bradford Hu sold 5,420 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $64.27, for a total value of $348,343.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Whitaker sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total value of $442,680.00. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

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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).

See Also: Cost of Equity

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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