Diversified Trust Co Acquires 11,417 Shares of Citigroup Inc (NYSE:C)
Diversified Trust Co grew its holdings in Citigroup Inc (NYSE:C) by 25.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,511 shares of the financial services provider’s stock after acquiring an additional 11,417 shares during the period. Diversified Trust Co’s holdings in Citigroup were worth $3,516,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA purchased a new stake in Citigroup during the first quarter worth $27,000. Harvest Group Wealth Management LLC purchased a new stake in Citigroup during the first quarter worth $28,000. Larson Financial Group LLC purchased a new position in Citigroup during the fourth quarter valued at $29,000. Blume Capital Management Inc. lifted its holdings in Citigroup by 4,615.4% during the fourth quarter. Blume Capital Management Inc. now owns 613 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. Finally, Acima Private Wealth LLC purchased a new position in Citigroup during the fourth quarter valued at $33,000. 76.00% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Stephen Bird sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $69.33, for a total value of $2,079,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.
Citigroup (NYSE:C) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. The business had revenue of $18.58 billion during the quarter, compared to analysts’ expectations of $18.56 billion. During the same period last year, the business earned $1.68 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that Citigroup Inc will post 7.6 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio is presently 27.07%.
Several research firms have issued reports on C. BMO Capital Markets increased their price objective on shares of Citigroup from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Zacks Investment Research cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Jefferies Financial Group upgraded shares of Citigroup from a “hold” rating to a “buy” rating and increased their target price for the company from $64.00 to $73.00 in a research report on Friday, February 22nd. Goldman Sachs Group upgraded shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 target price for the company in a research report on Thursday, May 30th. Finally, UBS Group increased their target price on shares of Citigroup from $78.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $79.39.
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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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