Family Management Corp Grows Position in Citigroup Inc (C)

Family Management Corp increased its holdings in shares of Citigroup Inc (NYSE:C) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,950 shares of the financial services provider’s stock after acquiring an additional 6,203 shares during the quarter. Citigroup makes up approximately 2.5% of Family Management Corp’s holdings, making the stock its 17th biggest holding. Family Management Corp’s holdings in Citigroup were worth $4,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Advisors LLC increased its stake in shares of Citigroup by 349.7% in the second quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 1,336 shares during the period. Stelac Advisory Services LLC acquired a new stake in shares of Citigroup in the first quarter valued at approximately $116,000. IMA Wealth Inc. acquired a new stake in shares of Citigroup in the second quarter valued at approximately $129,000. Twin Tree Management LP increased its stake in shares of Citigroup by 100.4% in the first quarter. Twin Tree Management LP now owns 2,013 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 535,686 shares during the period. Finally, Clearwater Capital Advisors LLC acquired a new stake in shares of Citigroup in the first quarter valued at approximately $143,000. Hedge funds and other institutional investors own 74.83% of the company’s stock.

Several brokerages have commented on C. ValuEngine upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Wells Fargo & Co set a $100.00 price target on shares of Citigroup and gave the company a “buy” rating in a research note on Monday, August 27th. TheStreet upgraded shares of Citigroup from a “c” rating to a “b-” rating in a research note on Monday, July 30th. Goldman Sachs Group set a $78.00 price target on shares of Citigroup and gave the company a “neutral” rating in a research note on Friday, July 20th. Finally, BMO Capital Markets raised their price target on shares of Citigroup from $76.00 to $85.00 and gave the company a “market perform” rating in a research note on Monday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $81.65.

In related news, insider Raja Akram sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $69.21, for a total transaction of $34,605.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francisco Aristeguieta sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total transaction of $1,085,400.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

NYSE C opened at $70.54 on Friday. Citigroup Inc has a 12 month low of $64.38 and a 12 month high of $80.70. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market cap of $181.22 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.96 and a beta of 1.45.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.08. The business had revenue of $18.47 billion for the quarter, compared to analyst estimates of $18.43 billion. Citigroup had a negative net margin of 5.45% and a positive return on equity of 8.78%. sell-side analysts predict that Citigroup Inc will post 6.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Monday, August 6th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.55%. This is a boost from Citigroup’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 3rd. Citigroup’s dividend payout ratio (DPR) is presently 33.77%.

Citigroup Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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