Endurance Wealth Management Inc. cut its holdings in Citigroup Inc (NYSE:C) by 17.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,091 shares of the financial services provider’s stock after selling 2,201 shares during the quarter. Endurance Wealth Management Inc.’s holdings in Citigroup were worth $697,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of C. Nuveen Asset Management LLC lifted its position in Citigroup by 1,638.7% in the second quarter. Nuveen Asset Management LLC now owns 23,014,050 shares of the financial services provider’s stock worth $1,611,674,000 after buying an additional 21,690,409 shares during the last quarter. Invesco Ltd. lifted its position in Citigroup by 27.8% in the second quarter. Invesco Ltd. now owns 48,104,326 shares of the financial services provider’s stock worth $3,368,746,000 after buying an additional 10,457,813 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Citigroup by 81.7% during the second quarter. APG Asset Management N.V. now owns 9,426,403 shares of the financial services provider’s stock worth $579,672,000 after purchasing an additional 4,238,700 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Citigroup by 29.4% during the second quarter. UBS Asset Management Americas Inc. now owns 10,228,198 shares of the financial services provider’s stock worth $716,281,000 after purchasing an additional 2,322,201 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its position in shares of Citigroup by 287.1% during the second quarter. Balyasny Asset Management LLC now owns 2,585,216 shares of the financial services provider’s stock worth $181,043,000 after purchasing an additional 1,917,339 shares during the last quarter. 76.63% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Bank of America lifted their price objective on Citigroup from $78.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. UBS Group lifted their price objective on Citigroup from $87.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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 report on Friday, July 26th. ValuEngine downgraded Citigroup from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, BMO Capital Markets downgraded Citigroup to a “hold” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and an average price target of $80.57.
Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.12. The firm had revenue of $18.57 billion during the quarter, compared to analysts’ expectations of $18.54 billion. Citigroup had a return on equity of 10.16% and a net margin of 18.28%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. On average, research analysts expect that Citigroup Inc will post 7.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, November 1st. Citigroup’s payout ratio is currently 30.68%.
In other news, insider Michael Whitaker sold 7,500 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total transaction of $465,225.00. Following the completion of the transaction, the insider now directly owns 93,848 shares in the company, valued at approximately $5,821,391.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.
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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