Diversified Trust Co Raises Position in Citigroup Inc (NYSE:C)
Diversified Trust Co grew its position in Citigroup Inc (NYSE:C) by 7.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 60,881 shares of the financial services provider’s stock after buying an additional 4,158 shares during the period. Diversified Trust Co’s holdings in Citigroup were worth $4,206,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Garrison Point Advisors LLC grew its stake in Citigroup by 2.6% in the 2nd quarter. Garrison Point Advisors LLC now owns 5,560 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 140 shares during the period. Essex Financial Services Inc. raised its stake in shares of Citigroup by 0.7% during the second quarter. Essex Financial Services Inc. now owns 22,728 shares of the financial services provider’s stock worth $1,592,000 after purchasing an additional 153 shares during the last quarter. Asset Dedication LLC raised its stake in shares of Citigroup by 2.0% during the second quarter. Asset Dedication LLC now owns 7,782 shares of the financial services provider’s stock worth $542,000 after purchasing an additional 156 shares during the last quarter. Belpointe Asset Management LLC raised its stake in shares of Citigroup by 1.9% during the first quarter. Belpointe Asset Management LLC now owns 8,483 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 161 shares during the last quarter. Finally, Cpwm LLC raised its stake in shares of Citigroup by 1.0% during the second quarter. Cpwm LLC now owns 16,607 shares of the financial services provider’s stock worth $1,163,000 after purchasing an additional 163 shares during the last quarter. 76.66% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on C shares. BMO Capital Markets cut Citigroup to a “hold” rating in a research note on Friday, July 26th. Bank of America lowered Citigroup to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on Citigroup from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Wells Fargo & Co set a $85.00 target price on Citigroup and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Barclays upped their target price on Citigroup from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and an average target price of $79.54.
Citigroup (NYSE:C) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.17. The company had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $18.49 billion. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. Citigroup’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 EPS. Sell-side analysts expect that Citigroup Inc will post 7.52 earnings per share for the current fiscal year.
In related news, insider Michael Whitaker sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the sale, the insider now directly owns 93,848 shares in the company, valued at approximately $5,821,391.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.
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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