Man Group plc raised its holdings in Citigroup Inc (NYSE:C) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,761,985 shares of the financial services provider’s stock after purchasing an additional 153,961 shares during the quarter. Citigroup accounts for 1.0% of Man Group plc’s investment portfolio, making the stock its 5th largest position. Man Group plc owned approximately 0.17% of Citigroup worth $263,451,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the business. Little House Capital LLC lifted its holdings in Citigroup by 31,355.7% during the 2nd quarter. Little House Capital LLC now owns 110,095 shares of the financial services provider’s stock worth $7,710,000 after purchasing an additional 109,745 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new stake in Citigroup during the 2nd quarter worth about $300,000. Baker Avenue Asset Management LP lifted its holdings in Citigroup by 26.7% during the 2nd quarter. Baker Avenue Asset Management LP now owns 15,097 shares of the financial services provider’s stock worth $1,057,000 after purchasing an additional 3,185 shares in the last quarter. Balyasny Asset Management LLC lifted its holdings in Citigroup by 287.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 2,585,216 shares of the financial services provider’s stock worth $181,043,000 after purchasing an additional 1,917,339 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Citigroup during the 2nd quarter worth about $2,703,000. Hedge funds and other institutional investors own 76.56% of the company’s stock.
C has been the topic of a number of recent research reports. Morgan Stanley set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a report on Friday, August 9th. Bank of America cut Citigroup to a “hold” rating in a report on Friday, July 26th. 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 report on Friday, July 26th. Berenberg Bank set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, BMO Capital Markets cut Citigroup to a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $79.12.
Citigroup (NYSE:C) last released its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.17. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The firm had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $18.49 billion. During the same quarter last year, the firm posted $1.63 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that Citigroup Inc will post 7.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 2nd. Citigroup’s dividend payout ratio (DPR) is currently 30.68%.
In related news, insider Michael Whitaker sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total transaction of $465,225.00. Following the transaction, the insider now directly owns 93,848 shares of the company’s stock, valued at approximately $5,821,391.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.
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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