Trustcore Financial Services LLC lessened its holdings in shares of Citigroup Inc (NYSE:C) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,420 shares of the financial services provider’s stock after selling 370 shares during the period. Trustcore Financial Services LLC’s holdings in Citigroup were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new position in Citigroup in the first quarter valued at $27,000. Harvest Group Wealth Management LLC purchased a new position in Citigroup in the first quarter valued at $28,000. Centaurus Financial Inc. increased its holdings in Citigroup by 95.1% in the first 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. Avestar Capital LLC increased its holdings in Citigroup by 35.0% in the first quarter. Avestar Capital LLC now owns 610 shares of the financial services provider’s stock valued at $33,000 after buying an additional 158 shares in the last quarter. Finally, Farmers National Bank purchased a new position in Citigroup in the first quarter valued at $34,000. 76.02% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on C shares. Morgan Stanley lifted their price objective on shares of Citigroup from $76.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Wells Fargo & Co set a $90.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Goldman Sachs Group raised shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 target price for the company in a research note on Thursday, May 30th. Finally, Barclays boosted their target price on shares of Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $79.57.
Citigroup (NYSE:C) last posted its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.17. The firm had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. Citigroup’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share. Analysts expect that Citigroup Inc will post 7.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 2nd. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 dividend on an annualized basis and a yield of 3.14%. Citigroup’s payout ratio is presently 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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