Harwood Advisory Group LLC Invests $2.43 Million in Citigroup Inc (NYSE:C)

Harwood Advisory Group LLC purchased a new stake in Citigroup Inc (NYSE:C) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 34,676 shares of the financial services provider’s stock, valued at approximately $2,428,000.

A number of other hedge funds have also added to or reduced their stakes in C. Van ECK Associates Corp raised its position in Citigroup by 9.6% during the 2nd quarter. Van ECK Associates Corp now owns 80,905 shares of the financial services provider’s stock worth $5,666,000 after buying an additional 7,089 shares during the last quarter. Pictet North America Advisors SA grew its stake in shares of Citigroup by 26.1% during the 2nd quarter. Pictet North America Advisors SA now owns 35,751 shares of the financial services provider’s stock worth $2,504,000 after purchasing an additional 7,395 shares during the period. Axiom International Investors LLC DE grew its stake in shares of Citigroup by 22.9% during the 2nd quarter. Axiom International Investors LLC DE now owns 659,875 shares of the financial services provider’s stock worth $46,211,000 after purchasing an additional 122,965 shares during the period. Redpoint Investment Management Pty Ltd grew its stake in shares of Citigroup by 5.3% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 169,543 shares of the financial services provider’s stock worth $11,873,000 after purchasing an additional 8,553 shares during the period. Finally, Balasa Dinverno & Foltz LLC grew its stake in shares of Citigroup by 7.9% during the 2nd quarter. Balasa Dinverno & Foltz LLC now owns 11,797 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 865 shares during the period. Hedge funds and other institutional investors own 76.78% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Goldman Sachs Group raised shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price target on the stock in a research note on Thursday, May 30th. BMO Capital Markets cut shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of Citigroup from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $86.00 in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $79.12.

NYSE C traded down $1.96 during trading hours on Friday, reaching $61.95. The company’s stock had a trading volume of 15,056,823 shares, compared to its average volume of 15,013,443. The stock has a market cap of $144.38 billion, a PE ratio of 9.32, a PEG ratio of 0.69 and a beta of 1.76. Citigroup Inc has a fifty-two week low of $48.42 and a fifty-two week high of $75.24. The company’s 50-day moving average is $68.50 and its two-hundred day moving average is $66.41. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.01 and a current ratio of 1.01.

Citigroup (NYSE:C) last issued its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.17. The firm had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. Equities analysts expect that Citigroup Inc will post 7.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.29%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 2nd. Citigroup’s dividend payout ratio is presently 30.68%.

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).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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