GM Advisory Group Inc. Invests $1.28 Million in Citigroup Inc (NYSE:C)
GM Advisory Group Inc. bought a new position in Citigroup Inc (NYSE:C) during the first quarter, Holdings Channel reports. The firm bought 30,401 shares of the financial services provider’s stock, valued at approximately $1,280,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. GWM Advisors LLC raised its holdings in Citigroup by 20.6% in the 4th quarter. GWM Advisors LLC now owns 40,003 shares of the financial services provider’s stock worth $3,195,000 after purchasing an additional 6,834 shares during the period. Kingsview Wealth Management LLC raised its holdings in Citigroup by 253.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 14,772 shares of the financial services provider’s stock worth $1,180,000 after purchasing an additional 10,590 shares during the period. Seelaus Asset Management LLC raised its holdings in Citigroup by 6.2% in the 4th quarter. Seelaus Asset Management LLC now owns 8,526 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 501 shares during the period. Whittier Trust Co. raised its holdings in Citigroup by 3.8% in the 4th quarter. Whittier Trust Co. now owns 224,661 shares of the financial services provider’s stock worth $17,946,000 after purchasing an additional 8,294 shares during the period. Finally, Covenant Multifamily Offices LLC acquired a new position in Citigroup in the 4th quarter worth about $71,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.
C has been the subject of a number of analyst reports. Standpoint Research raised Citigroup from a “hold” rating to a “buy” rating in a report on Monday, May 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Citigroup in a report on Sunday, April 19th. Piper Sandler reduced their target price on Citigroup from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, April 3rd. TheStreet cut Citigroup from a “b” rating to a “c+” rating in a report on Tuesday, March 17th. Finally, BMO Capital Markets reduced their target price on Citigroup from $71.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.66.
Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $18.98 billion. Citigroup had a return on equity of 9.15% and a net margin of 16.56%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 earnings per share. As a group, sell-side analysts forecast that Citigroup Inc will post 3.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a $0.51 dividend. The ex-dividend date was Friday, May 1st. This represents a $2.04 annualized dividend and a yield of 3.82%. Citigroup’s payout ratio is 26.91%.
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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