Institute for Wealth Management LLC. lifted its position in Citigroup Inc (NYSE:C) by 11.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,422 shares of the financial services provider’s stock after acquiring an additional 3,196 shares during the period. Institute for Wealth Management LLC.’s holdings in Citigroup were worth $2,130,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership boosted its holdings in shares of Citigroup by 1.1% during the first quarter. Artisan Partners Limited Partnership now owns 11,033,376 shares of the financial services provider’s stock worth $686,497,000 after purchasing an additional 124,374 shares during the period. Sanders Capital LLC boosted its holdings in shares of Citigroup by 2.5% during the second quarter. Sanders Capital LLC now owns 10,354,948 shares of the financial services provider’s stock worth $818,349,000 after purchasing an additional 251,300 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of Citigroup by 7.4% during the first quarter. Parametric Portfolio Associates LLC now owns 8,150,246 shares of the financial services provider’s stock worth $507,108,000 after purchasing an additional 559,038 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Citigroup by 6.1% during the first quarter. Janus Henderson Group PLC now owns 4,450,450 shares of the financial services provider’s stock worth $276,925,000 after purchasing an additional 254,562 shares during the period. Finally, AJO LP boosted its holdings in shares of Citigroup by 23.5% during the first quarter. AJO LP now owns 4,144,296 shares of the financial services provider’s stock worth $257,858,000 after purchasing an additional 789,759 shares during the period. 77.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Citigroup stock traded up $2.16 on Friday, reaching $63.48. The stock had a trading volume of 16,384,600 shares, compared to its average volume of 14,770,224. The business’s 50-day moving average price is $69.44 and its two-hundred day moving average price is $66.46. 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 Inc has a fifty-two week low of $48.42 and a fifty-two week high of $75.24. The stock has a market cap of $138.53 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.76.
Citigroup (NYSE:C) last issued its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, topping the Zacks’ 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 period in the previous year, the company earned $1.63 earnings per share. Citigroup’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts forecast that Citigroup Inc will post 7.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.21%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 2nd. Citigroup’s payout ratio is presently 30.68%.
Several analysts recently commented on C shares. Barclays raised their price target on shares of Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Goldman Sachs Group upgraded shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price target for the company in a report on Thursday, May 30th. Berenberg Bank set a $78.00 price target on shares of Citigroup and gave the stock a “buy” rating in a report on Monday, June 17th. BMO Capital Markets cut shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $74.00 to $86.00 in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and a consensus price target of $79.40.
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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