Hi Line Capital Management LLC raised its holdings in Citigroup Inc (NYSE:C) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,095 shares of the financial services provider’s stock after buying an additional 706 shares during the quarter. Citigroup comprises 3.5% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Hi Line Capital Management LLC’s holdings in Citigroup were worth $7,710,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new position in shares of Citigroup in the 1st quarter valued at approximately $27,000. Personal Wealth Partners purchased a new position in Citigroup during the second quarter valued at $27,000. Harvest Group Wealth Management LLC purchased a new position in Citigroup during the first quarter valued at $28,000. Centaurus Financial Inc. raised its stake in Citigroup by 95.1% during 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 during the last quarter. Finally, Mcmillion Capital Management Inc. purchased a new position in Citigroup during the second quarter valued at $31,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.
C stock opened at $70.27 on Friday. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $75.24. The business has a fifty day moving average price of $65.97 and a 200-day moving average price of $66.54. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $155.83 billion, a P/E ratio of 10.57, a P/E/G ratio of 0.75 and a beta of 1.78.
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 the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $18.49 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. As a group, analysts anticipate that Citigroup Inc will post 7.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.51 dividend. The ex-dividend date was Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. Citigroup’s payout ratio is currently 30.68%.
In other news, insider Michael Whitaker sold 7,500 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the transaction, the insider now owns 93,848 shares in the company, valued at $5,821,391.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.
A number of research analysts have issued reports on the company. Barclays lifted their price objective on Citigroup from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $86.00 in a research note on Friday, July 26th. Wells Fargo & Co set a $85.00 price objective on Citigroup and gave the company a “buy” rating in a research note on Friday, August 16th. ValuEngine cut Citigroup from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley set a $78.00 price objective on Citigroup and gave the company a “buy” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Citigroup has a consensus rating of “Buy” and a consensus target price of $79.12.
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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