Wright Investors Service Inc. raised its position in Citigroup Inc (NYSE:C) by 1.9% in the 2nd quarter, Holdings Channel reports. The firm owned 52,030 shares of the financial services provider’s stock after buying an additional 949 shares during the period. Citigroup accounts for approximately 1.4% of Wright Investors Service Inc.’s investment portfolio, making the stock its 18th biggest holding. Wright Investors Service Inc.’s holdings in Citigroup were worth $3,644,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of C. Kavar Capital Partners LLC bought a new stake in shares of Citigroup during the second quarter worth $223,000. TRUE Private Wealth Advisors increased its position in shares of Citigroup by 71.9% during the second quarter. TRUE Private Wealth Advisors now owns 6,938 shares of the financial services provider’s stock worth $485,000 after acquiring an additional 2,903 shares in the last quarter. Milestone Group Inc. increased its position in shares of Citigroup by 10.9% during the second quarter. Milestone Group Inc. now owns 5,818 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 571 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Citigroup by 23.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,765,826 shares of the financial services provider’s stock worth $121,165,000 after acquiring an additional 340,350 shares in the last quarter. Finally, Close Asset Management Ltd increased its position in shares of Citigroup by 12.6% during the second quarter. Close Asset Management Ltd now owns 212,833 shares of the financial services provider’s stock worth $14,894,000 after acquiring an additional 23,764 shares in the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on C shares. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BMO Capital Markets downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $86.00 in a research report on Friday, July 26th. Berenberg Bank set a $78.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Morgan Stanley set a $78.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Citigroup presently has a consensus rating of “Buy” and an average target price of $79.40.
C traded up $0.03 during trading hours on Thursday, hitting $61.44. 894,126 shares of the company’s stock were exchanged, compared to its average volume of 13,639,416. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $75.24. The firm has a 50-day moving average price of $69.66. The company has a market capitalization of $145.12 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.70 and a beta of 1.76. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.01 and a current ratio of 1.01.
Citigroup (NYSE:C) last announced its earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.17. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The business had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $18.49 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Citigroup Inc will post 7.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a dividend of $0.51 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.04 annualized dividend and a yield of 3.32%. Citigroup’s dividend payout ratio is presently 30.68%.
Citigroup Company Profile
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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