Citigroup Inc. (C) Holdings Trimmed by Private Advisor Group LLC
Private Advisor Group LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 23.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,669 shares of the financial services provider’s stock after selling 17,296 shares during the period. Private Advisor Group LLC’s holdings in Citigroup were worth $3,833,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Catamount Wealth Management bought a new stake in shares of Citigroup in the second quarter valued at about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in shares of Citigroup by 206.0% in the second 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 in the last quarter. Patten Group Inc. lifted its holdings in shares of Citigroup by 6.6% in the first 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 in the last quarter. Dubuque Bank & Trust Co. lifted its holdings in shares of Citigroup by 60.8% in the second 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 in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of Citigroup in the second quarter valued at about $123,000. Hedge funds and other institutional investors own 72.31% of the company’s stock.
C has been the topic of a number of research reports. Atlantic Securities restated an “overweight” rating and issued a $85.00 price target (up from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Bank of America Corporation restated a “neutral” rating on shares of Citigroup in a report on Wednesday, October 11th. Zacks Investment Research upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price target on the stock in a report on Thursday, August 3rd. Finally, BMO Capital Markets restated a “hold” rating and issued a $65.00 price target on shares of Citigroup in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $74.77.
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In related news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction that occurred on Thursday, August 10th. The shares were 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 owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
Citigroup (NYSE:C) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping 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 company had revenue of $18.17 billion during the quarter, compared to analyst estimates of $17.87 billion. During the same quarter last year, the business posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.3% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.74%. Citigroup’s payout ratio is currently 24.66%.
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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