Nwam LLC decreased its position in shares of Citigroup Inc. (NYSE:C – Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,594 shares of the company’s stock after selling 259 shares during the quarter. Nwam LLC’s holdings in Citigroup were worth $350,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Panagora Asset Management Inc. increased its holdings in Citigroup by 24.5% in the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock valued at $1,589,000 after purchasing an additional 5,853 shares during the period. Zions Bancorporation N.A. raised its position in shares of Citigroup by 50.5% during the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock worth $334,000 after acquiring an additional 2,100 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Citigroup by 20.8% in the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock worth $282,000 after acquiring an additional 907 shares during the period. Ergoteles LLC bought a new stake in Citigroup in the first quarter valued at approximately $761,000. Finally, Halbert Hargrove Global Advisors LLC increased its position in Citigroup by 7.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock valued at $218,000 after purchasing an additional 268 shares during the period. Institutional investors own 69.26% of the company’s stock.
Insiders Place Their Bets
In other Citigroup news, insider Andrew John Morton sold 28,096 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $40.66, for a total value of $1,142,383.36. Following the completion of the sale, the insider now directly owns 410,060 shares of the company’s stock, valued at approximately $16,673,039.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.
Citigroup Stock Up 1.5 %
Citigroup (NYSE:C – Get Free Report) last released its quarterly earnings results 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. The business had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $19.27 billion. Citigroup had a return on equity of 6.76% and a net margin of 9.22%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 EPS. On average, equities research analysts forecast that Citigroup Inc. will post 5.86 EPS for the current fiscal year.
Citigroup Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.67%. The ex-dividend date is Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 33.60%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on C. Royal Bank of Canada reduced their price objective on shares of Citigroup from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 20th. HSBC started coverage on shares of Citigroup in a research report on Thursday, September 7th. They set a “hold” rating and a $43.00 price target on the stock. Piper Sandler lowered their price objective on Citigroup from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. BMO Capital Markets upped their target price on Citigroup from $61.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. Finally, Oppenheimer lifted their target price on Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday. One investment 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. Based on data from MarketBeat, Citigroup currently has an average rating of “Hold” and a consensus price target of $51.28.
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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