Intech Investment Management LLC decreased its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 77.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,344 shares of the company’s stock after selling 247,526 shares during the quarter. Intech Investment Management LLC’s holdings in Citigroup were worth $3,285,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Toroso Investments LLC grew its position in Citigroup by 22.5% in the 1st quarter. Toroso Investments LLC now owns 49,560 shares of the company’s stock valued at $2,324,000 after purchasing an additional 9,117 shares during the period. Inscription Capital LLC acquired a new stake in Citigroup in the 1st quarter valued at $284,000. Leo Brokerage LLC acquired a new stake in Citigroup in the 1st quarter valued at $532,000. Berkeley Capital Partners LLC grew its position in Citigroup by 4.4% in the 1st quarter. Berkeley Capital Partners LLC now owns 20,333 shares of the company’s stock valued at $953,000 after purchasing an additional 858 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in Citigroup by 128.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 306,668 shares of the company’s stock valued at $14,119,000 after purchasing an additional 172,364 shares during the period. Institutional investors and hedge funds own 69.26% of the company’s stock.
Insider Activity at Citigroup
In other Citigroup news, insider Andrew John Morton sold 28,096 shares of Citigroup stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $40.66, for a total transaction of $1,142,383.36. Following the completion of the transaction, the insider now owns 410,060 shares of the company’s stock, valued at approximately $16,673,039.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.
Citigroup Trading Up 1.2 %
Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data on Friday, October 13th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.29. Citigroup had a return on equity of 6.76% and a net margin of 9.22%. The business had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $19.27 billion. During the same period in the previous year, the business posted $1.50 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts predict that Citigroup Inc. will post 5.86 EPS for the current year.
Citigroup Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 6th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Friday, November 3rd. Citigroup’s dividend payout ratio is currently 33.60%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on C shares. Bank of America reduced their price target on shares of Citigroup from $60.00 to $50.00 in a research report on Tuesday, October 10th. StockNews.com assumed coverage on Citigroup in a research note on Thursday, October 5th. They set a “hold” rating on the stock. The Goldman Sachs Group dropped their price objective on Citigroup from $47.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Jefferies Financial Group dropped their price objective on Citigroup from $47.00 to $43.00 in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada dropped their price objective on Citigroup from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.09.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.
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