Morningstar Investment Services LLC reduced its stake in Citigroup Inc (NYSE:C) by 21.4% during the second quarter, Holdings Channel reports. The fund owned 167,011 shares of the financial services provider’s stock after selling 45,365 shares during the quarter. Morningstar Investment Services LLC’s holdings in Citigroup were worth $11,176,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in C. ValueAct Holdings L.P. increased its holdings in Citigroup by 1,372.7% in the 1st quarter. ValueAct Holdings L.P. now owns 16,200,000 shares of the financial services provider’s stock valued at $1,093,500,000 after acquiring an additional 15,100,000 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Citigroup in the 1st quarter valued at $93,899,000. Summit Trail Advisors LLC increased its holdings in Citigroup by 5,933.7% in the 1st quarter. Summit Trail Advisors LLC now owns 1,103,074 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 1,084,792 shares during the last quarter. Toronto Dominion Bank increased its holdings in Citigroup by 89.9% in the 1st quarter. Toronto Dominion Bank now owns 1,926,828 shares of the financial services provider’s stock valued at $130,033,000 after acquiring an additional 912,012 shares during the last quarter. Finally, Mackay Shields LLC bought a new stake in Citigroup in the 1st quarter valued at $56,677,000. Institutional investors own 76.30% of the company’s stock.
In related news, CEO Francisco Aristeguieta sold 15,000 shares of Citigroup stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total transaction of $1,085,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John C. Gerspach sold 12,966 shares of Citigroup stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $72.31, for a total transaction of $937,571.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,466 shares of company stock worth $2,057,576. Insiders own 0.11% of the company’s stock.
Citigroup opened at $70.26 on Friday, MarketBeat Ratings reports. Citigroup Inc has a twelve month low of $64.38 and a twelve month high of $80.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $184.99 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.98 and a beta of 1.49.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Monday, August 6th will be issued a $0.45 dividend. The ex-dividend date is Friday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.32. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.56%. Citigroup’s payout ratio is 33.77%.
C has been the topic of a number of research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $85.00 price target on shares of Citigroup in a report on Monday, July 16th. Vining Sparks reiterated a “buy” rating and issued a $82.00 price target on shares of Citigroup in a report on Monday, April 16th. Morgan Stanley reduced their price target on shares of Citigroup from $88.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday, July 16th. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, Deutsche Bank upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Wednesday, June 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. Citigroup presently has an average rating of “Hold” and an average price target of $81.65.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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