Quadrature Capital Ltd bought a new position in shares of Citigroup Inc (NYSE:C) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,047 shares of the financial services provider’s stock, valued at approximately $1,178,000.
Other hedge funds have also recently bought and sold shares of the company. Lenox Wealth Advisors LLC acquired a new stake in shares of Citigroup during the second quarter worth $27,000. Rocky Mountain Advisers LLC acquired a new stake in Citigroup in the second quarter valued at $36,000. Arlington Partners LLC lifted its holdings in Citigroup by 1,171.2% in the second quarter. Arlington Partners LLC now owns 750 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 691 shares during the period. CVA Family Office LLC acquired a new stake in Citigroup in the first quarter valued at $37,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Citigroup by 363.1% in the second quarter. Creative Financial Designs Inc. ADV now owns 940 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 737 shares during the period. 75.57% of the stock is owned by institutional investors and hedge funds.
C traded up $1.02 during trading hours on Friday, reaching $52.52. 25,030,959 shares of the stock traded hands, compared to its average volume of 18,157,006. The firm’s fifty day simple moving average is $51.28 and its two-hundred day simple moving average is $51.12. The company has a market cap of $109.34 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.55 and a beta of 1.75. Citigroup Inc has a fifty-two week low of $32.00 and a fifty-two week high of $83.11. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98.
Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. Citigroup had a net margin of 13.64% and a return on equity of 7.40%. The firm had revenue of $19.77 billion for the quarter, compared to the consensus estimate of $19.06 billion. During the same period in the prior year, the firm posted $1.95 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that Citigroup Inc will post 3.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.88%. Citigroup’s payout ratio is currently 26.91%.
A number of equities research analysts have commented on C shares. Bank of America raised their target price on Citigroup from $73.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 10th. Berenberg Bank raised their price target on Citigroup from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 20th. BMO Capital Markets raised their price target on Citigroup from $82.00 to $87.00 in a research report on Wednesday, July 15th. Morgan Stanley raised their price target on Citigroup from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Finally, Wells Fargo & Co raised their price target on Citigroup from $60.00 to $72.00 in a research report on Friday, June 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.03.
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).
Further Reading: Black Swan
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