Gabelli Funds LLC boosted its stake in Citigroup Inc (NYSE:C) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,585 shares of the financial services provider’s stock after purchasing an additional 12,800 shares during the period. Gabelli Funds LLC’s holdings in Citigroup were worth $19,037,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Personal Wealth Partners purchased a new stake in Citigroup during the second quarter valued at $27,000. Mcmillion Capital Management Inc. acquired a new position in Citigroup during the second quarter worth approximately $31,000. MRA Associates USA LLC purchased a new position in shares of Citigroup in the 2nd quarter valued at approximately $34,000. Garrett Wealth Advisory Group LLC purchased a new stake in shares of Citigroup in the third quarter valued at approximately $33,000. Finally, Bray Capital Advisors boosted its stake in shares of Citigroup by 257.4% in the second quarter. Bray Capital Advisors now owns 486 shares of the financial services provider’s stock valued at $34,000 after buying an additional 350 shares in the last quarter. 76.63% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the company. ValuEngine downgraded Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $86.00 in a research note on Friday, July 26th. Vining Sparks upgraded Citigroup to a “buy” rating and set a $80.00 price target on the stock in a research note on Wednesday, October 9th. BMO Capital Markets downgraded Citigroup to a “hold” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Co set a $85.00 target price on Citigroup and gave the stock a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $80.57.
In related news, insider Michael Whitaker sold 7,500 shares of the company’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 directly owns 93,848 shares in the company, valued at $5,821,391.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.
NYSE C opened at $75.71 on Thursday. Citigroup Inc has a fifty-two week low of $48.42 and a fifty-two week high of $75.97. The stock has a market cap of $164.07 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.85 and a beta of 1.80. The business has a fifty day moving average of $70.53 and a 200-day moving average of $68.24. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 1.36.
Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.12. Citigroup had a return on equity of 10.16% and a net margin of 18.28%. The company had revenue of $18.57 billion during the quarter, compared to analysts’ expectations of $18.54 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that Citigroup Inc will post 7.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.04 annualized dividend and a yield of 2.69%. Citigroup’s payout ratio is currently 30.68%.
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).
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