Beacon Pointe Advisors LLC reduced its stake in shares of Citigroup Inc. (NYSE:C – Get Rating) by 65.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,452 shares of the company's stock after selling 166,942 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Citigroup were worth $3,980,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of C. Smith Salley & Associates increased its stake in shares of Citigroup by 11.0% in the second quarter. Smith Salley & Associates now owns 26,995 shares of the company's stock valued at $1,241,000 after buying an additional 2,671 shares in the last quarter. Sandy Spring Bank increased its stake in shares of Citigroup by 3.5% in the second quarter. Sandy Spring Bank now owns 54,156 shares of the company's stock valued at $2,490,000 after buying an additional 1,820 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of Citigroup by 28.0% in the second quarter. Pzena Investment Management LLC now owns 15,334,377 shares of the company's stock valued at $705,228,000 after buying an additional 3,353,371 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of Citigroup by 2.5% in the second quarter. Legacy Wealth Asset Management LLC now owns 14,496 shares of the company's stock valued at $667,000 after buying an additional 356 shares in the last quarter. Finally, AE Wealth Management LLC increased its stake in shares of Citigroup by 13.2% in the second quarter. AE Wealth Management LLC now owns 198,283 shares of the company's stock valued at $9,119,000 after buying an additional 23,050 shares in the last quarter. 71.46% of the stock is currently owned by institutional investors and hedge funds.
Get Citigroup alerts:Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Citigroup from $49.00 to $49.50 in a report on Wednesday, November 2nd. The Goldman Sachs Group cut Citigroup from a "buy" rating to a "neutral" rating and decreased their price target for the company from $54.00 to $47.00 in a report on Monday, October 3rd. Odeon Capital Group cut Citigroup from a "buy" rating to a "hold" rating in a report on Tuesday, September 6th. Morgan Stanley reduced their target price on Citigroup from $46.00 to $44.00 and set an "underweight" rating on the stock in a report on Wednesday, October 5th. Finally, Credit Suisse Group set a $54.00 target price on Citigroup in a report on Monday, October 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Citigroup has a consensus rating of "Hold" and a consensus target price of $58.60.
Insider Buying and Selling
In related news, insider Citigroup Inc sold 4,614,358 shares of the business's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $36.25, for a total transaction of $167,270,477.50. Following the transaction, the insider now directly owns 15,318 shares of the company's stock, valued at approximately $555,277.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by insiders.Citigroup Stock Up 0.5 %
NYSE:C opened at $48.88 on Tuesday. The firm has a market capitalization of $94.67 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58. Citigroup Inc. has a twelve month low of $40.01 and a twelve month high of $69.11. The stock's 50 day moving average price is $45.32 and its two-hundred day moving average price is $48.33. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.40.
Citigroup (NYSE:C – Get Rating) last posted its quarterly earnings results on Friday, October 14th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.17. The firm had revenue of $18.51 billion for the quarter, compared to analyst estimates of $18.28 billion. Citigroup had a return on equity of 9.14% and a net margin of 17.31%. The business's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 EPS. Equities research analysts expect that Citigroup Inc. will post 7.09 earnings per share for the current fiscal year.
Citigroup Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 7th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Friday, November 4th. Citigroup's payout ratio is presently 27.95%.
Citigroup Profile
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Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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