Hollow Brook Wealth Management LLC acquired a new position in Citigroup Inc. (NYSE:C) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,888 shares of the financial services provider’s stock, valued at approximately $1,865,000. Citigroup makes up approximately 1.3% of Hollow Brook Wealth Management LLC’s investment portfolio, making the stock its 27th largest position.
A number of other large investors have also modified their holdings of C. Catamount Wealth Management acquired a new position in Citigroup during the 2nd quarter worth $100,000. Patten Group Inc. raised its position in shares of Citigroup by 6.6% during the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. raised its position in shares of Citigroup by 60.8% during the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares during the last quarter. Advantage Investment Management LLC raised its position in shares of Citigroup by 109.3% during the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of Citigroup during the second quarter valued at about $123,000. Hedge funds and other institutional investors own 72.16% of the company’s stock.
C has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on shares of Citigroup in a research note on Wednesday, August 9th. They set an “outperform” rating and a $90.00 price objective on the stock. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. HSBC Holdings plc set a $74.00 price target on shares of Citigroup and gave the company a “hold” rating in a research note on Friday, August 11th. Morgan Stanley increased their price target on shares of Citigroup from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $68.00 price target on shares of Citigroup in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $74.77.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the transaction, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
Citigroup Inc. (C) opened at 73.79 on Friday. The company has a market cap of $195.10 billion, a P/E ratio of 14.24 and a beta of 1.45. The stock has a 50 day moving average of $71.88 and a 200-day moving average of $66.15. Citigroup Inc. has a 12 month low of $47.70 and a 12 month high of $76.14.
Citigroup (NYSE:C) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The company had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post $5.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.73%. Citigroup’s payout ratio is 24.66%.
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Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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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