Ken Stern & Associates Inc. purchased a new stake in Citigroup Inc (NYSE:C) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,188 shares of the financial services provider’s stock, valued at approximately $414,000.
A number of other institutional investors also recently made changes to their positions in C. Legacy Advisors LLC boosted its holdings in shares of Citigroup by 349.7% in the second quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 1,336 shares during the period. Stelac Advisory Services LLC acquired a new stake in shares of Citigroup in the first quarter valued at approximately $116,000. IMA Wealth Inc. acquired a new stake in shares of Citigroup in the second quarter valued at approximately $129,000. Bedel Financial Consulting Inc. acquired a new stake in shares of Citigroup in the first quarter valued at approximately $133,000. Finally, Twin Tree Management LP boosted its holdings in shares of Citigroup by 100.4% in the first quarter. Twin Tree Management LP now owns 2,013 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 535,686 shares during the period. Institutional investors own 76.07% of the company’s stock.
In other Citigroup news, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total value of $1,085,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raja Akram sold 500 shares of the firm’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $69.21, for a total value of $34,605.00. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
Several equities research analysts have recently weighed in on C shares. Morgan Stanley decreased their price objective on Citigroup from $93.00 to $88.00 and set an “overweight” rating for the company in a report on Monday, April 30th. ValuEngine downgraded Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Daiwa Capital Markets downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price target for the company. in a report on Thursday, May 17th. Deutsche Bank raised Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Wednesday, June 20th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $85.00 price target on shares of Citigroup in a report on Monday, July 16th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.65.
NYSE:C opened at $69.67 on Monday. The firm has a market capitalization of $180.57 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.96 and a beta of 1.49. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 1.00. Citigroup Inc has a 1 year low of $64.38 and a 1 year high of $80.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Monday, August 6th will be given a $0.45 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 3rd. This represents a $1.80 annualized dividend and a yield of 2.58%. Citigroup’s dividend payout ratio is presently 33.77%.
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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