Advisors Asset Management Inc. Increases Stake in Citigroup Inc. (C)
Advisors Asset Management Inc. raised its stake in Citigroup Inc. (NYSE:C) by 3.6% during the second quarter, Holdings Channel reports. The firm owned 21,387 shares of the financial services provider’s stock after buying an additional 747 shares during the period. Advisors Asset Management Inc.’s holdings in Citigroup were worth $907,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of C. Legal & General Group Plc increased its position in shares of Citigroup by 2.1% in the first quarter. Legal & General Group Plc now owns 14,126,657 shares of the financial services provider’s stock valued at $589,847,000 after buying an additional 289,283 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in shares of Citigroup during the first quarter valued at approximately $181,532,000. Samlyn Capital LLC purchased a new position in shares of Citigroup during the first quarter valued at approximately $39,195,000. Eachwin Capital LP purchased a new position in shares of Citigroup during the first quarter valued at approximately $384,000. Finally, Sii Investments Inc. WI increased its position in shares of Citigroup by 15.5% in the first quarter. Sii Investments Inc. WI now owns 9,543 shares of the financial services provider’s stock valued at $400,000 after buying an additional 1,282 shares during the last quarter. 71.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (NYSE:C) traded up 0.2000% on Thursday, hitting $46.9938. The company had a trading volume of 11,051,860 shares. The stock’s 50-day moving average is $46.60 and its 200 day moving average is $44.43. The company has a market capitalization of $136.53 billion, a price-to-earnings ratio of 9.9458 and a beta of 1.90. Citigroup Inc. has a 52 week low of $34.52 and a 52 week high of $56.46.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.14. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. The firm had revenue of $17.55 billion for the quarter, compared to analysts’ expectations of $17.47 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. Equities analysts expect that Citigroup Inc. will post $4.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. This is a boost from Citigroup’s previous quarterly dividend of $0.05. Citigroup’s dividend payout ratio (DPR) is presently 13.59%.
Several analysts recently weighed in on C shares. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $63.00 price target (down previously from $70.00) on shares of Citigroup in a report on Wednesday, July 6th. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 price target on the stock. in a report on Monday, June 27th. Societe Generale cut shares of Citigroup from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. Jefferies Group reiterated a “buy” rating on shares of Citigroup in a report on Monday, August 1st. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $65.00 price target on shares of Citigroup in a report on Monday, July 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and a consensus target price of $55.24.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total value of $360,210.70. Following the transaction, the insider now directly owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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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