MML Investors Services LLC lifted its position in shares of Citigroup Inc (NYSE:C) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,815 shares of the financial services provider’s stock after acquiring an additional 3,962 shares during the quarter. MML Investors Services LLC’s holdings in Citigroup were worth $4,259,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. LFA Lugano Financial Advisors SA bought a new position in shares of Citigroup in the 1st quarter worth about $27,000. Personal Wealth Partners bought a new position in shares of Citigroup in the 2nd quarter worth about $27,000. Harvest Group Wealth Management LLC bought a new position in shares of Citigroup in the 1st quarter worth about $28,000. Centaurus Financial Inc. raised its position in shares of Citigroup by 95.1% in the 1st quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 835 shares in the last quarter. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Citigroup in the 2nd quarter worth about $31,000. 77.09% of the stock is currently owned by institutional investors.
C traded up $1.36 during midday trading on Friday, reaching $70.66. 832,943 shares of the company were exchanged, compared to its average volume of 13,822,949. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day moving average price is $65.97 and its 200 day moving average price is $66.54. The company has a market cap of $155.83 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.75 and a beta of 1.78. Citigroup Inc has a one year low of $48.42 and a one year high of $75.24.
Citigroup (NYSE:C) last issued its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.17. The firm had revenue of $18.76 billion during the quarter, compared to analyst estimates of $18.49 billion. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. As a group, sell-side analysts anticipate that Citigroup Inc will post 7.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.51 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Friday, August 2nd. Citigroup’s payout ratio is currently 30.68%.
Several research firms have recently weighed in on C. ValuEngine lowered Citigroup from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a research report on Friday, August 9th. Goldman Sachs Group raised Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price objective for the company in a research report on Thursday, May 30th. Barclays lifted their price objective on Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $74.00 to $86.00 in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $79.12.
In other Citigroup news, insider Michael Whitaker sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total transaction of $465,225.00. Following the completion of the sale, the insider now directly owns 93,848 shares of the company’s stock, valued at approximately $5,821,391.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
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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