Sound Income Strategies LLC grew its holdings in Citigroup Inc. (NYSE:C – Free Report) by 17.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 218,165 shares of the company’s stock after acquiring an additional 31,687 shares during the period. Citigroup accounts for approximately 1.0% of Sound Income Strategies LLC’s holdings, making the stock its 29th largest position. Sound Income Strategies LLC’s holdings in Citigroup were worth $10,044,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Moody National Bank Trust Division boosted its stake in shares of Citigroup by 0.5% during the 2nd quarter. Moody National Bank Trust Division now owns 46,141 shares of the company’s stock worth $2,124,000 after acquiring an additional 245 shares in the last quarter. Cooper Financial Group boosted its stake in shares of Citigroup by 12.7% during the 2nd quarter. Cooper Financial Group now owns 21,052 shares of the company’s stock worth $969,000 after acquiring an additional 2,368 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Citigroup by 2.5% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 9,638 shares of the company’s stock worth $444,000 after acquiring an additional 238 shares in the last quarter. Parkside Investments LLC boosted its holdings in shares of Citigroup by 2.5% during the 2nd quarter. Parkside Investments LLC now owns 112,382 shares of the company’s stock worth $5,174,000 after buying an additional 2,750 shares during the period. Finally, Nexus Investment Management ULC boosted its holdings in shares of Citigroup by 0.8% during the 2nd quarter. Nexus Investment Management ULC now owns 520,995 shares of the company’s stock worth $23,987,000 after buying an additional 4,335 shares during the period. 69.26% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on C shares. Credit Suisse Group decreased their price objective on shares of Citigroup from $54.00 to $50.00 in a report on Wednesday, May 24th. Odeon Capital Group upgraded Citigroup from a “hold” rating to a “buy” rating and set a $50.51 target price for the company in a research note on Tuesday, July 18th. BMO Capital Markets reduced their price target on shares of Citigroup from $64.00 to $62.00 in a report on Monday, July 17th. HSBC began coverage on Citigroup in a report on Thursday, September 7th. They set a “hold” rating and a $43.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their target price on Citigroup from $50.00 to $48.00 in a research note on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup has an average rating of “Hold” and an average target price of $53.00.
Get Our Latest Stock Report on C
Citigroup Price Performance
Shares of Citigroup stock traded down $0.29 during trading on Friday, reaching $42.85. The company’s stock had a trading volume of 9,008,719 shares, compared to its average volume of 17,418,367. The stock has a 50-day moving average price of $44.21 and a two-hundred day moving average price of $45.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.45. Citigroup Inc. has a one year low of $40.01 and a one year high of $53.23. The stock has a market capitalization of $83.42 billion, a P/E ratio of 6.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.57.
Citigroup (NYSE:C – Get Free Report) last released its quarterly earnings results on Friday, July 14th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. Citigroup had a return on equity of 6.80% and a net margin of 10.24%. The business had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $19.34 billion. During the same period in the previous year, the business posted $2.30 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.75 EPS for the current fiscal year.
Citigroup Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were issued a dividend of $0.53 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a yield of 4.95%. The ex-dividend date was Friday, August 4th. Citigroup’s payout ratio is currently 33.60%.
About Citigroup
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.
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