KLCM Advisors Inc. cut its stake in shares of Citigroup Inc (NYSE:C) by 11.0% in the 3rd quarter, Holdings Channel reports. The firm owned 329,686 shares of the financial services provider’s stock after selling 40,736 shares during the quarter. Citigroup comprises approximately 6.3% of KLCM Advisors Inc.’s holdings, making the stock its 3rd biggest position. KLCM Advisors Inc.’s holdings in Citigroup were worth $22,775,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of C. Garrison Point Advisors LLC grew its stake in Citigroup by 2.6% in the second quarter. Garrison Point Advisors LLC now owns 5,560 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 140 shares during the last quarter. Ridgewood Investments LLC lifted its stake in Citigroup by 3.7% in the 3rd quarter. Ridgewood Investments LLC now owns 4,085 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 146 shares during the last quarter. Essex Financial Services Inc. lifted its stake in Citigroup by 0.7% in the 2nd quarter. Essex Financial Services Inc. now owns 22,728 shares of the financial services provider’s stock valued at $1,592,000 after purchasing an additional 153 shares during the last quarter. Asset Dedication LLC lifted its stake in Citigroup by 2.0% in the 2nd quarter. Asset Dedication LLC now owns 7,782 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 156 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in Citigroup by 2.5% in the 3rd quarter. Prospera Financial Services Inc now owns 6,603 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 160 shares during the last quarter. 76.63% of the stock is owned by institutional investors.
In other Citigroup news, insider Michael Whitaker sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the sale, the insider now directly owns 93,848 shares in the company, valued at $5,821,391.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.
C has been the subject of several recent research reports. Bank of America upped their price target on shares of Citigroup to $85.00 and gave the company a “buy” rating in a research report on Thursday. ValuEngine cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Wells Fargo & Co set a $85.00 price target on shares of Citigroup and gave the company a “buy” rating in a research report on Friday, August 16th. Morgan Stanley set a $78.00 price target on shares of Citigroup and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Citigroup from $77.50 to $84.50 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. Citigroup currently has a consensus rating of “Buy” and an average price target of $80.57.
Shares of C traded up $1.46 during trading hours on Thursday, hitting $75.88. 5,992,474 shares of the stock were exchanged, compared to its average volume of 12,470,361. Citigroup Inc has a fifty-two week low of $48.42 and a fifty-two week high of $75.97. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.00 and a quick ratio of 1.01. The business has a 50-day moving average of $70.53 and a 200-day moving average of $68.24. The firm has a market capitalization of $164.07 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.85 and a beta of 1.80.
Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.12. The company had revenue of $18.57 billion during the quarter, compared to analysts’ expectations of $18.54 billion. Citigroup had a net margin of 18.28% and a return on equity of 10.16%. Citigroup’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 earnings per share. As a group, analysts forecast that Citigroup Inc will post 7.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, November 1st. Citigroup’s payout ratio is 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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