Carlton Hofferkamp & Jenks Wealth Management LLC grew its position in Citigroup Inc (NYSE:C) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,420 shares of the financial services provider’s stock after acquiring an additional 350 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Citigroup were worth $715,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of Citigroup by 27.8% during the second quarter. Invesco Ltd. now owns 48,104,326 shares of the financial services provider’s stock worth $3,368,746,000 after purchasing an additional 10,457,813 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Citigroup by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 36,542,950 shares of the financial services provider’s stock worth $2,559,105,000 after purchasing an additional 122,127 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Citigroup by 1,638.7% during the second quarter. Nuveen Asset Management LLC now owns 23,014,050 shares of the financial services provider’s stock worth $1,611,674,000 after purchasing an additional 21,690,409 shares during the period. Morgan Stanley lifted its holdings in shares of Citigroup by 3.4% during the second quarter. Morgan Stanley now owns 12,856,381 shares of the financial services provider’s stock worth $900,333,000 after purchasing an additional 427,951 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Citigroup by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,309,671 shares of the financial services provider’s stock worth $792,017,000 after purchasing an additional 88,835 shares during the period. 76.66% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Michael Whitaker sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the transaction, the insider now owns 93,848 shares in the company, valued at $5,821,391.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.
Several equities research analysts recently weighed in on C shares. Morgan Stanley set a $78.00 price target on Citigroup and gave the stock a “buy” rating in a report on Friday, August 9th. UBS Group increased their price objective on Citigroup from $87.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America cut Citigroup to a “hold” rating in a research report on Friday, July 26th. Berenberg Bank set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $86.00 in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Citigroup presently has a consensus rating of “Buy” and a consensus target price of $79.73.
NYSE:C traded up $1.75 during trading hours on Friday, hitting $70.37. The company’s stock had a trading volume of 738,875 shares, compared to its average volume of 12,621,599. The business’s 50-day moving average is $67.01 and its two-hundred day moving average is $67.26. The company has a market capitalization of $155.02 billion, a PE ratio of 10.57, a PEG ratio of 0.72 and a beta of 1.80. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup Inc has a 52-week low of $48.42 and a 52-week high of $73.08.
Citigroup (NYSE:C) last announced its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.17. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The business had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $18.49 billion. During the same quarter last year, the business posted $1.63 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, analysts predict that Citigroup Inc will post 7.53 EPS for the current fiscal year.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Featured Story: High-Yield Dividend Stocks
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.