Citigroup Inc (C) Position Reduced by Waddell & Reed Financial Inc.
Waddell & Reed Financial Inc. reduced its position in shares of Citigroup Inc (NYSE:C) by 23.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,647,398 shares of the financial services provider’s stock after selling 1,119,663 shares during the quarter. Waddell & Reed Financial Inc. owned approximately 0.14% of Citigroup worth $244,084,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Legacy Advisors LLC raised its holdings in Citigroup by 349.7% in the 2nd quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,336 shares in the last quarter. Stelac Advisory Services LLC bought a new position in Citigroup in the 1st quarter worth $116,000. IMA Wealth Inc. bought a new position in Citigroup in the 2nd quarter worth $129,000. Twin Tree Management LP raised its holdings in Citigroup by 100.4% in the 1st quarter. Twin Tree Management LP now owns 2,013 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 535,686 shares in the last quarter. Finally, Clearwater Capital Advisors LLC bought a new position in Citigroup in the 1st quarter worth $143,000. Institutional investors own 74.83% of the company’s stock.
In other news, insider Raja Akram sold 500 shares of the stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $69.21, for a total value of $34,605.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total transaction of $1,085,400.00. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The firm had revenue of $18.47 billion for the quarter, compared to the consensus estimate of $18.43 billion. Citigroup had a negative net margin of 5.45% and a positive return on equity of 8.78%. equities research analysts forecast that Citigroup Inc will post 6.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Monday, August 6th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.32. Citigroup’s dividend payout ratio (DPR) is presently 33.77%.
A number of research firms have recently weighed in on C. ValuEngine raised shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Wells Fargo & Co set a $100.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research report on Monday, August 27th. TheStreet raised shares of Citigroup from a “c” rating to a “b-” rating in a research report on Monday, July 30th. Goldman Sachs Group set a $78.00 price objective on shares of Citigroup and gave the company a “neutral” rating in a research report on Friday, July 20th. Finally, BMO Capital Markets increased their price objective on shares of Citigroup from $76.00 to $85.00 and gave the company a “market perform” rating in a research report on Monday, July 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Citigroup currently has a consensus rating of “Hold” and an average target price of $81.65.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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