IFG Advisory LLC lifted its stake in shares of Citigroup Inc (NYSE:C) by 12.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,067 shares of the financial services provider’s stock after acquiring an additional 780 shares during the quarter. IFG Advisory LLC’s holdings in Citigroup were worth $472,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Northern Capital Management LLC increased its holdings in Citigroup by 31.4% during the 2nd quarter. Northern Capital Management LLC now owns 95,045 shares of the financial services provider’s stock valued at $6,360,000 after purchasing an additional 22,699 shares in the last quarter. ICM Asset Management Inc. WA increased its stake in shares of Citigroup by 332.0% in the 2nd quarter. ICM Asset Management Inc. WA now owns 21,991 shares of the financial services provider’s stock valued at $1,472,000 after buying an additional 16,900 shares during the period. D.A. Davidson & CO. increased its stake in shares of Citigroup by 13.8% in the 2nd quarter. D.A. Davidson & CO. now owns 70,879 shares of the financial services provider’s stock valued at $4,743,000 after buying an additional 8,584 shares during the period. IndexIQ Advisors LLC increased its stake in shares of Citigroup by 49.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 95,214 shares of the financial services provider’s stock valued at $6,372,000 after buying an additional 31,636 shares during the period. Finally, Shepherd Financial Partners LLC increased its stake in shares of Citigroup by 135.8% in the 2nd quarter. Shepherd Financial Partners LLC now owns 12,481 shares of the financial services provider’s stock valued at $840,000 after buying an additional 7,188 shares during the period. Hedge funds and other institutional investors own 76.07% of the company’s stock.
Several research analysts have weighed in on C shares. ValuEngine lowered Citigroup from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada reiterated a “buy” rating and set a $85.00 target price on shares of Citigroup in a report on Monday, July 16th. Morgan Stanley dropped their price target on Citigroup from $88.00 to $84.00 and set an “overweight” rating on the stock in a research note on Monday, July 16th. Deutsche Bank raised Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, June 20th. Finally, Goldman Sachs Group set a $78.00 price target on Citigroup and gave the company a “neutral” rating in a research note on Friday, July 20th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $81.65.
In related news, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction on Wednesday, August 8th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raja Akram sold 500 shares of the stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $69.21, for a total value of $34,605.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
NYSE C traded up $0.88 on Thursday, hitting $69.53. 530,818 shares of the company’s stock were exchanged, compared to its average volume of 16,910,996. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 1.00. Citigroup Inc has a 52 week low of $64.38 and a 52 week high of $80.70. The stock has a market capitalization of $180.57 billion, a PE ratio of 13.03, a PEG ratio of 0.96 and a beta of 1.49.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Monday, August 6th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.32. This represents a $1.80 annualized dividend and a yield of 2.59%. Citigroup’s dividend payout ratio is presently 33.77%.
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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