Securian Asset Management Inc trimmed its position in Citigroup Inc (NYSE:C) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 254,436 shares of the financial services provider’s stock after selling 3,224 shares during the period. Securian Asset Management Inc’s holdings in Citigroup were worth $18,253,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Advisors LLC increased its stake in shares of Citigroup by 349.7% in the second quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,336 shares during the period. IMA Wealth Inc. purchased a new position in Citigroup during the 2nd quarter valued at $129,000. Arlington Partners LLC purchased a new position in Citigroup during the 3rd quarter valued at $143,000. Peoples Financial Services CORP. increased its position in Citigroup by 82.8% during the 3rd quarter. Peoples Financial Services CORP. now owns 2,208 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,000 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Citigroup during the 3rd quarter valued at $166,000. 74.91% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on C. Zacks Investment Research raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Tuesday, October 16th. 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. TheStreet raised shares of Citigroup from a “c” rating to a “b-” rating in a research report on Monday, July 30th. BMO Capital Markets boosted their price objective on shares of Citigroup to $92.00 and gave the company a “market perform” rating in a research report on Monday, October 15th. Finally, Deutsche Bank boosted their price objective on shares of Citigroup from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $82.91.
Citigroup (NYSE:C) last released its earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.07. The firm had revenue of $18.39 billion for the quarter, compared to the consensus estimate of $18.43 billion. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. During the same period in the prior year, the firm earned $1.42 EPS. On average, analysts forecast that Citigroup Inc will post 6.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 5th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, November 2nd. Citigroup’s dividend payout ratio is presently 33.77%.
In other news, CEO Francisco Aristeguieta sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total value of $1,085,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.
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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