Citigroup Inc (NYSE:C) Shares Purchased by Wright Investors Service Inc.
Wright Investors Service Inc. boosted its holdings in Citigroup Inc (NYSE:C) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,030 shares of the financial services provider’s stock after buying an additional 949 shares during the quarter. Citigroup accounts for about 1.4% of Wright Investors Service Inc.’s investment portfolio, making the stock its 18th largest position. Wright Investors Service Inc.’s holdings in Citigroup were worth $3,644,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Rehmann Capital Advisory Group boosted its stake in shares of Citigroup by 103.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 4,389 shares of the financial services provider’s stock valued at $273,000 after buying an additional 2,228 shares during the period. Advisor Partners LLC boosted its stake in shares of Citigroup by 8.2% during the 2nd quarter. Advisor Partners LLC now owns 78,622 shares of the financial services provider’s stock valued at $5,506,000 after buying an additional 5,980 shares during the period. Strategy Asset Managers LLC acquired a new stake in shares of Citigroup during the 1st quarter valued at $55,000. Sanders Morris Harris LLC acquired a new stake in shares of Citigroup during the 2nd quarter valued at $514,000. Finally, Front Barnett Associates LLC boosted its stake in shares of Citigroup by 0.4% during the 1st quarter. Front Barnett Associates LLC now owns 134,044 shares of the financial services provider’s stock valued at $8,340,000 after buying an additional 551 shares during the period. Hedge funds and other institutional investors own 77.65% of the company’s stock.
Several research firms recently issued reports on C. Bank of America lowered shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. Goldman Sachs Group raised shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price objective for the company in a research note on Thursday, May 30th. Wells Fargo & Co set a $90.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research note on Friday, May 3rd. BMO Capital Markets lowered shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. Finally, Zacks Investment Research lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $79.40.
Citigroup (NYSE:C) last issued its earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.17. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The business had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. During the same period in the previous year, the business earned $1.63 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts predict that Citigroup Inc will post 7.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a $0.51 dividend. The ex-dividend date of this dividend is 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 3.32%. Citigroup’s 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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