Family Management Corp increased its position in Citigroup Inc (NYSE:C) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,522 shares of the financial services provider’s stock after purchasing an additional 1,273 shares during the quarter. Citigroup makes up about 1.4% of Family Management Corp’s investment portfolio, making the stock its 19th largest holding. Family Management Corp’s holdings in Citigroup were worth $3,608,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its stake in Citigroup by 87.0% in the second quarter. Point72 Asset Management L.P. now owns 835,111 shares of the financial services provider’s stock worth $58,483,000 after purchasing an additional 388,468 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of Citigroup by 12.5% during the 2nd quarter. Hilltop Holdings Inc. now owns 8,067 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 895 shares during the last quarter. Morgan Stanley raised its stake in Citigroup by 3.4% in the 2nd quarter. Morgan Stanley now owns 12,856,381 shares of the financial services provider’s stock worth $900,333,000 after acquiring an additional 427,951 shares during the last quarter. PVG Asset Management Corp raised its stake in Citigroup by 12.6% in the 2nd quarter. PVG Asset Management Corp now owns 19,730 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 2,205 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Citigroup by 284.0% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 576 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 426 shares during the last quarter. Institutional investors own 76.56% of the company’s stock.
Several equities research analysts have weighed in on C shares. Goldman Sachs Group raised Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price target on the stock in a research report on Thursday, May 30th. Morgan Stanley set a $78.00 price target on Citigroup and gave the stock a “buy” rating in a research report on Friday, August 9th. Berenberg Bank set a $78.00 price target on Citigroup and gave the stock a “buy” rating in a research report on Monday, June 17th. Wells Fargo & Co set a $85.00 price target on Citigroup and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on Citigroup from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.12.
Citigroup (NYSE:C) last posted its earnings results 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. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The firm had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $18.49 billion. During the same quarter last year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc will post 7.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.51 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. Citigroup’s payout ratio is 30.68%.
In other Citigroup news, insider Michael Whitaker sold 7,500 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 93,848 shares in the company, valued at $5,821,391.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.
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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