Baird Financial Group Inc. increased its stake in Citigroup Inc (NYSE:C) by 26.2% during the 2nd quarter, Holdings Channel reports. The firm owned 665,531 shares of the financial services provider’s stock after buying an additional 138,136 shares during the period. Baird Financial Group Inc.’s holdings in Citigroup were worth $44,537,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of C. Bedel Financial Consulting Inc. purchased a new position in shares of Citigroup during the 1st quarter worth $133,000. Strategy Asset Managers LLC bought a new stake in shares of Citigroup during the 1st quarter valued at $2,511,000. Trexquant Investment LP bought a new stake in shares of Citigroup during the 1st quarter valued at $5,737,000. QCI Asset Management Inc. NY raised its position in shares of Citigroup by 14.8% during the 1st quarter. QCI Asset Management Inc. NY now owns 6,666 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 860 shares during the period. Finally, Hodges Capital Management Inc. raised its position in shares of Citigroup by 3.2% during the 1st quarter. Hodges Capital Management Inc. now owns 41,758 shares of the financial services provider’s stock valued at $2,819,000 after purchasing an additional 1,314 shares during the period. Institutional investors own 74.82% of the company’s stock.
In other news, insider Raja Akram sold 500 shares of the business’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $69.21, for a total value of $34,605.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Francisco Aristeguieta sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total transaction of $1,085,400.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Shares of NYSE C opened at $69.64 on Friday. 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 firm has a market capitalization of $180.19 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 0.95 and a beta of 1.45. Citigroup Inc has a 52-week low of $64.38 and a 52-week high of $80.70.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The company had revenue of $18.47 billion for the quarter, compared to the consensus estimate of $18.43 billion. Citigroup had a negative net margin of 5.45% and a positive return on equity of 8.78%. equities analysts forecast that Citigroup Inc will post 6.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Monday, August 6th were issued a $0.45 dividend. 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 yield of 2.58%. The ex-dividend date was Friday, August 3rd. Citigroup’s payout ratio is currently 33.77%.
Several brokerages have recently commented on C. ValuEngine upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Wells Fargo & Co set a $100.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research report on Monday, August 27th. Daiwa Capital Markets downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price objective on the stock. in a research report on Thursday, May 17th. TheStreet upgraded shares of Citigroup from a “c” rating to a “b-” rating in a research report on Monday, July 30th. Finally, Goldman Sachs Group set a $78.00 price objective on shares of Citigroup and gave the company a “neutral” rating in a research report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $81.65.
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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