Advisory Services Network LLC Increases Holdings in Citigroup Inc. (C)
Advisory Services Network LLC boosted its stake in Citigroup Inc. (NYSE:C) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,914 shares of the financial services provider’s stock after acquiring an additional 260 shares during the period. Advisory Services Network LLC’s holdings in Citigroup were worth $997,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Citigroup in the second quarter valued at approximately $1,034,000. Catamount Wealth Management bought a new stake in shares of Citigroup in the second quarter valued at approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Citigroup by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,030 shares during the period. Dubuque Bank & Trust Co. raised its position in shares of Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 599 shares during the period. Finally, Balentine LLC raised its position in shares of Citigroup by 20.2% in the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 272 shares during the period. 78.59% of the stock is currently owned by institutional investors and hedge funds.
C has been the topic of a number of analyst reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $75.00 target price on shares of Citigroup in a report on Wednesday, September 27th. Keefe, Bruyette & Woods set a $75.00 target price on shares of Citigroup and gave the stock a “buy” rating in a report on Sunday, August 13th. BidaskClub raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $73.00 target price on shares of Citigroup in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $75.61.
Citigroup (NYSE:C) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.10. The company had revenue of $18.17 billion during the quarter, compared to analysts’ expectations of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. sell-side analysts expect that Citigroup Inc. will post 5.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.28 annualized dividend and a yield of 1.66%. Citigroup’s payout ratio is currently 24.66%.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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