Gareth Morgan Investments Limited Partnership increased its holdings in Citigroup Inc. (NYSE:C) by 34.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 281,758 shares of the financial services provider’s stock after buying an additional 71,576 shares during the period. Citigroup accounts for 1.7% of Gareth Morgan Investments Limited Partnership’s investment portfolio, making the stock its 5th biggest position. Gareth Morgan Investments Limited Partnership’s holdings in Citigroup were worth $18,844,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in C. Catamount Wealth Management bought a new position in Citigroup in the 2nd quarter valued at $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Citigroup by 206.0% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,030 shares during the period. Dubuque Bank & Trust Co. boosted its holdings in Citigroup by 60.8% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 599 shares during the period. Patten Group Inc. boosted its holdings in Citigroup by 6.6% in the 1st quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 110 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new position in Citigroup in the 2nd quarter valued at $123,000. 72.31% of the stock is owned by institutional investors.
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Several research analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of Citigroup in a report on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 price target for the company. Raymond James Financial, Inc. assumed coverage on shares of Citigroup in a report on Tuesday. They issued a “hold” rating for the company. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. HSBC Holdings plc set a $74.00 price target on shares of Citigroup and gave the company a “hold” rating in a report on Friday, August 11th. Finally, Morgan Stanley raised their price target on shares of Citigroup from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $74.77.
Citigroup Inc. (C) opened at 73.50 on Wednesday. Citigroup Inc. has a 52-week low of $47.70 and a 52-week high of $76.14. The firm has a 50 day moving average of $72.65 and a 200-day moving average of $66.58. The stock has a market cap of $194.33 billion, a PE ratio of 14.19 and a beta of 1.45.
Citigroup (NYSE:C) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The business had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post $5.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, November 3rd. Citigroup’s dividend payout ratio is currently 24.66%.
In related news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the transaction, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
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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