Spectrum Financial Alliance Ltd LLC lessened its holdings in shares of Citigroup Inc (NYSE:C) by 1.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 327,878 shares of the financial services provider’s stock after selling 5,224 shares during the period. Citigroup comprises approximately 14.3% of Spectrum Financial Alliance Ltd LLC’s holdings, making the stock its biggest position. Spectrum Financial Alliance Ltd LLC’s holdings in Citigroup were worth $22,821,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Garrison Point Advisors LLC raised its holdings in shares of Citigroup by 2.6% during the 2nd quarter. Garrison Point Advisors LLC now owns 5,560 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 140 shares during the period. Essex Financial Services Inc. raised its holdings in Citigroup by 0.7% in the 2nd quarter. Essex Financial Services Inc. now owns 22,728 shares of the financial services provider’s stock valued at $1,592,000 after buying an additional 153 shares during the period. Asset Dedication LLC raised its holdings in Citigroup by 2.0% in the 2nd quarter. Asset Dedication LLC now owns 7,782 shares of the financial services provider’s stock valued at $542,000 after buying an additional 156 shares during the period. Icon Wealth Partners LLC raised its holdings in Citigroup by 3.2% in the 1st quarter. Icon Wealth Partners LLC now owns 5,138 shares of the financial services provider’s stock valued at $320,000 after buying an additional 157 shares during the period. Finally, Avestar Capital LLC raised its holdings in Citigroup by 35.0% in the 1st quarter. Avestar Capital LLC now owns 610 shares of the financial services provider’s stock valued at $33,000 after buying an additional 158 shares during the period. 76.56% of the stock is currently owned by institutional investors.
In other news, insider Michael Whitaker sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total transaction of $465,225.00. Following the completion of the transaction, the insider now directly owns 93,848 shares of the company’s stock, valued at $5,821,391.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.
Several analysts recently issued reports on C shares. Wells Fargo & Co set a $85.00 price objective on shares of Citigroup and gave the company a “buy” rating in a report on Friday, August 16th. Berenberg Bank set a $78.00 price objective on shares of Citigroup and gave the company a “buy” rating in a report on Monday, June 17th. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Citigroup from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $74.00 to $86.00 in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $79.12.
NYSE:C traded up $0.17 on Friday, reaching $69.90. 791,552 shares of the company’s stock were exchanged, compared to its average volume of 12,793,563. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $156.96 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 0.76 and a beta of 1.78. The business has a fifty day moving average of $65.70 and a 200-day moving average of $66.74. Citigroup Inc has a 52-week low of $48.42 and a 52-week high of $75.24.
Citigroup (NYSE:C) last issued its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.17. The company had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. As a group, equities analysts anticipate that Citigroup Inc will post 7.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, August 2nd. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. Citigroup’s dividend payout ratio is 30.68%.
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).
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