Commonwealth Bank of Australia cut its holdings in Citigroup Inc (NYSE:C) by 3.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 426,224 shares of the financial services provider’s stock after selling 13,885 shares during the period. Commonwealth Bank of Australia’s holdings in Citigroup were worth $28,309,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of C. Legacy Advisors LLC grew its stake 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 buying an additional 1,336 shares in the last quarter. Stelac Advisory Services LLC bought a new position in shares of Citigroup in the first quarter valued at $116,000. IMA Wealth Inc. bought a new position in shares of Citigroup in the second quarter valued at $129,000. Bedel Financial Consulting Inc. bought a new position in shares of Citigroup in the first quarter valued at $133,000. Finally, Twin Tree Management LP grew its stake 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 buying an additional 535,686 shares in the last quarter. Institutional investors own 74.82% of the company’s stock.
In other news, insider Raja Akram sold 500 shares of Citigroup stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $69.21, for a total transaction of $34,605.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Francisco Aristeguieta sold 15,000 shares of Citigroup 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 disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
C stock opened at $71.17 on Thursday. 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 one year low of $64.38 and a one year high of $80.70. The firm has a market cap of $183.09 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.97 and a beta of 1.45.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 13th. The financial services provider reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.08. Citigroup had a positive return on equity of 8.78% and a negative net margin of 5.45%. The company had revenue of $18.47 billion during the quarter, compared to the consensus estimate of $18.43 billion. sell-side analysts anticipate that Citigroup Inc will post 6.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Monday, August 6th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from Citigroup’s previous quarterly dividend of $0.32. Citigroup’s dividend payout ratio (DPR) is currently 33.77%.
C has been the subject of several analyst reports. Daiwa Capital Markets cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 target price for the company. in a research note on Thursday, May 17th. Deutsche Bank raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Wednesday, June 20th. ValuEngine cut shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $85.00 target price on shares of Citigroup in a research note on Monday, July 16th. Finally, Morgan Stanley reduced their price objective on shares of Citigroup from $88.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price 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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