Brookstone Capital Management, a renowned investment management firm, has recently increased its holdings in Citigroup Inc., according to the company’s latest Securities and Exchange Commission (SEC) filing. The 13F filing showcases Brookstone Capital Management’s acquisition of an additional 9,201 shares in Citigroup during the first quarter, resulting in a 3.2% increase in their holdings. With this recent purchase, the total number of shares owned by Brookstone Capital Management now stands at an impressive 298,746, amounting to a staggering value of $14,845,000.
Furthermore, Citigroup made an exciting announcement regarding its quarterly dividend distribution, which took place on Friday, May 26th. Shareholders who were registered as of Monday, May 1st received a dividend of $0.51 per share. Considering this dividend payout rate on an annual basis brings us to a figure of $2.04. Remarkably for investors seeking income generation opportunities through dividends, this represents a commendable yield of 4.41%. It is important to note that the ex-dividend date was set as Friday April 28th.
In other noteworthy news pertaining to Citigroup, one of their insiders named Zdenek Turek undertook a significant stock transaction on Tuesday April 18th. During this transaction period, Turek sold a substantial amount consisting of 12,000 shares from his personal holding within the company. These shares were sold at an average price equating to approximately $49.87 per share resulting in a total value worth $598,440. Following the conclusion of this transaction process by Turek himself – whose insider status bears significance – he now retains direct ownership over a remarkable stake totaling up to 155,979 shares within Citigroup. Moreover, these shares hold great value valuing up to roughly $7,778,672.73.
As with all stock transactions involving insiders, it is required that the information pertaining to this sale be disclosed with the SEC for public access. Interested individuals may find relevant details about this insider sale on the official SEC website. It is pertinent to note that the shares sold by Turek amount to 0.09% of Citigroup’s total outstanding stock, thus indicating a notable reduction in his personal holdings within the company.
Citigroup Inc., often referred to as C on the New York Stock Exchange (NYSE), is widely recognized as a leading global banking and financial services corporation. The institution boasts an extensive presence across numerous countries and operates through several segments including Global Consumer Banking, Institutional Clients Group, Corporate/Other, and Treasury and Trade Solutions.
With Brookstone Capital Management’s recent increase in its holdings and Citigroup’s strong dividend payout rate, it remains evident that this financial behemoth continues to grow and attract significant interest from both individual investors and institutional firms alike.
Citigroup Inc. Receives Growing Interest from Institutional Investors, Positive Earnings Beat
Citigroup Inc. (NYSE:C) has seen several institutional investors modify their holdings in the company, indicating a growing interest in its stock. Arlington Partners LLC recently purchased a new stake in Citigroup, worth approximately $25,000. This was followed by Bell Investment Advisors Inc., which boosted its holdings in the company by 72.1% during the last quarter, now owning 604 shares worth $27,000. EWG Elevate Inc. also bought a stake worth approximately $29,000, while Grey Fox Wealth Advisors LLC purchased a new stake for $33,000. Heritage Wealth Management LLC lifted its holdings by 140.1% during the fourth quarter and currently owns 862 shares valued at $39,000. Impressively, institutional investors currently own around 69.39% of the company’s stock.
Research firms have also expressed their opinions on Citigroup’s performance and prospects. BMO Capital Markets increased Citigroup’s price target from $56 to $68 and issued an “outperform” rating on the company in April this year. Evercore ISI lowered their price target from $53 to $50 in May while Royal Bank of Canada dropped theirs from $55 to $51 and maintained an “outperform” rating for the stock in March. StockNews.com assumed coverage on Citigroup on May 18th with a “hold” rating. Credit Suisse Group also lowered their price target from $54 to $50 in late May.
Citigroup recently announced a quarterly dividend that was paid out on May 26th to shareholders of record as of May 1st. The dividend amounted to $0.51 per share, representing an annualized dividend of $2.04 and a yield of 4.41%. The ex-dividend date for this payment was April 28th.
Shares of Citigroup opened at $46.29 on Friday with a market cap of $90.12 billion. The company has a price-to-earnings ratio of 6.46, a PEG ratio of 1.76, and a beta of 1.57. Its 50-day moving average is $46.58, and the 200-day moving average stands at $47.62. Despite experiencing a 1-year low of $40.01, Citigroup’s stock reached a high of $54.56 within the same period. Additionally, the company has a debt-to-equity ratio of 1.48, along with current and quick ratios both at 0.95.
Citigroup recently reported its earnings for the quarter ending April 14th, surpassing the consensus estimate by earning $2.19 per share compared to an expected $1.66 per share – an impressive beat of $0.53 per share in earnings. The company recorded revenue totaling $21.40 billion during this quarter, exceeding the consensus estimate of $20.07 billion as well as increasing its revenue by 11.% compared to the same period last year. Citigroup’s net margin stood at 12/96% while its return on equity was reported as 7/84%, showcasing strong financial performance.
Analysts predict that Citigroup will post earnings per share (EPS) of approximately 5 onom a soke9abddca;sboyearn estimated fasscal Grcit4al yar.iscaiswiwc&nbd;&+r; itearwocrssicviloascsaesaorqruiG,onptuEcisyolnlmytcSacaisp;lslownh.oymGmdlt.s.khndre,bTDd-utloh tfcioeor te’o qhtcoeyturape os nui tbtrtttfr e&aale.re.nodvaegolf flswSa.Scid c C3yitdasraou a,Imiec tG’t gpeilt ttsuephd. r sml=telhgtfnwvierei+nttSsu trmiiyrnedtI,b tcPs.l d’tnlrisaadlnlfen&ir;tn’nsrhetnanseaeolltsotiwadheulrrqsoooalucsSp etdnednebtoA&si;oqr;.fotTisabatew,soealsdo..!
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