Concurrent Investment Advisors LLC Acquires 5,696 Shares of Citigroup Inc. $C

Concurrent Investment Advisors LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 14.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,353 shares of the company’s stock after buying an additional 5,696 shares during the period. Concurrent Investment Advisors LLC’s holdings in Citigroup were worth $3,860,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares during the period. Northern Trust Corp increased its position in Citigroup by 1.0% in the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company’s stock valued at $1,450,153,000 after acquiring an additional 195,013 shares in the last quarter. Invesco Ltd. increased its position in Citigroup by 3.6% in the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock valued at $1,195,466,000 after acquiring an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Finally, Amundi increased its position in Citigroup by 78.4% in the 1st quarter. Amundi now owns 13,713,517 shares of the company’s stock valued at $973,523,000 after acquiring an additional 6,026,268 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

Shares of C stock opened at $96.18 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59. The company has a market capitalization of $177.05 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company’s 50 day moving average price is $97.09 and its two-hundred day moving average price is $84.05.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same period last year, the company earned $1.52 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup’s dividend payout ratio (DPR) is presently 35.45%.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director directly owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

C has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Barclays raised their target price on shares of Citigroup from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Evercore ISI set a $77.00 target price on shares of Citigroup in a research note on Monday, July 7th. UBS Group reaffirmed a “neutral” rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Finally, Zacks Research lowered shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $99.68.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.