KLCM Advisors Inc. trimmed its position in Citigroup Inc (NYSE:C) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,686 shares of the financial services provider’s stock after selling 40,736 shares during the quarter. Citigroup accounts for approximately 6.3% of KLCM Advisors Inc.’s holdings, making the stock its 3rd biggest holding. KLCM Advisors Inc.’s holdings in Citigroup were worth $22,775,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centaurus Financial Inc. grew its holdings in Citigroup by 95.1% in the 1st quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock valued at $28,000 after buying an additional 835 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Citigroup by 4.3% in the 2nd quarter. Private Trust Co. NA now owns 13,579 shares of the financial services provider’s stock valued at $950,000 after acquiring an additional 558 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in shares of Citigroup by 376.7% in the 2nd quarter. Baystate Wealth Management LLC now owns 634 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 501 shares during the last quarter. Swedbank increased its holdings in shares of Citigroup by 0.5% in the 2nd quarter. Swedbank now owns 2,963,889 shares of the financial services provider’s stock valued at $207,561,000 after acquiring an additional 14,933 shares during the last quarter. Finally, Rockland Trust Co. grew its stake in Citigroup by 30.5% during the 2nd quarter. Rockland Trust Co. now owns 4,611 shares of the financial services provider’s stock worth $323,000 after buying an additional 1,077 shares during the last quarter. 76.63% of the stock is currently owned by institutional investors.
C stock traded up $1.46 during midday trading on Thursday, hitting $75.88. 5,992,474 shares of the stock were exchanged, compared to its average volume of 12,470,361. The stock’s 50-day moving average price is $70.53 and its 200-day moving average price is $68.24. The stock has a market cap of $164.07 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.85 and a beta of 1.80. 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 quick ratio of 1.01 and a current ratio of 1.00.
Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.12. The firm had revenue of $18.57 billion during the quarter, compared to analysts’ expectations of $18.54 billion. Citigroup had a return on equity of 10.16% and a net margin of 18.28%. Citigroup’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 earnings per share. Research analysts anticipate that Citigroup Inc will post 7.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, November 1st. This represents a $2.04 annualized dividend and a yield of 2.69%. Citigroup’s dividend payout ratio is presently 30.68%.
A number of analysts have weighed in on C shares. 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. Vining Sparks raised Citigroup to a “buy” rating and set a $80.00 price objective for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on Citigroup from $77.50 to $84.50 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Co set a $85.00 price objective on Citigroup and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods raised 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $80.57.
In related news, insider Michael Whitaker sold 7,500 shares of Citigroup stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total transaction of $465,225.00. Following the completion of the transaction, the insider now directly owns 93,848 shares of the company’s stock, valued at $5,821,391.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
Citigroup Company Profile
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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