Morningstar Investment Services LLC Sells 3,711 Shares of Citigroup Inc (NYSE:C)
Morningstar Investment Services LLC decreased its stake in Citigroup Inc (NYSE:C) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 152,289 shares of the financial services provider’s stock after selling 3,711 shares during the quarter. Morningstar Investment Services LLC’s holdings in Citigroup were worth $10,665,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in C. LFA Lugano Financial Advisors SA bought a new position in Citigroup in the 1st quarter valued at $27,000. Personal Wealth Partners bought a new stake in shares of Citigroup during the second quarter worth $27,000. Harvest Group Wealth Management LLC bought a new stake in shares of Citigroup during the first quarter worth $28,000. Centaurus Financial Inc. boosted its stake in shares of Citigroup by 95.1% during the first quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 835 shares during the period. Finally, Mcmillion Capital Management Inc. purchased a new stake in shares of Citigroup during the second quarter valued at $31,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.
In related news, insider Michael Whitaker sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total value of $465,225.00. Following the transaction, the insider now directly owns 93,848 shares of the company’s stock, valued at approximately $5,821,391.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.
Citigroup (NYSE:C) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.17. The firm had revenue of $18.76 billion during 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%. Citigroup’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. On average, equities analysts expect that Citigroup Inc will post 7.55 EPS for the current fiscal year.
The business 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. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 2.97%. Citigroup’s dividend payout ratio is presently 30.68%.
A number of research firms have recently commented on C. Wells Fargo & Co set a $85.00 price target on shares of Citigroup and gave the stock a “buy” rating in a report on Friday, August 16th. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods raised 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 research report on Friday, July 26th. BMO Capital Markets downgraded shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Citigroup from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. Citigroup presently has a consensus rating of “Buy” and a consensus target price of $79.12.
Citigroup Company Profile
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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