Continental Investors Services Inc. Invests $291,000 in Citigroup Inc. (NYSE:C)

Posted by Defense World Staff on Mar 19th, 2023

Continental Investors Services Inc. bought a new position in shares of Citigroup Inc. (NYSE:C – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,888 shares of the company’s stock, valued at approximately $291,000.

Several other hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. purchased a new position in Citigroup in the 3rd quarter valued at about $25,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Citigroup in the 3rd quarter worth approximately $28,000. McIlrath & Eck LLC lifted its stake in Citigroup by 96.6% in the 3rd quarter. McIlrath & Eck LLC now owns 814 shares of the company’s stock worth $34,000 after purchasing an additional 400 shares in the last quarter. Annapolis Financial Services LLC increased its holdings in shares of Citigroup by 59.0% during the 3rd quarter. Annapolis Financial Services LLC now owns 935 shares of the company’s stock worth $39,000 after buying an additional 347 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Citigroup by 82.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 961 shares of the company’s stock worth $51,000 after buying an additional 433 shares during the last quarter. 70.90% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Citigroup stock opened at $44.25 on Friday. The stock has a market cap of $86.01 billion, a P/E ratio of 6.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The company has a fifty day simple moving average of $50.17 and a 200-day simple moving average of $47.39. Citigroup Inc. has a 12-month low of $40.01 and a 12-month high of $58.25. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.49.

Citigroup (NYSE:C – Get Rating) last released its quarterly earnings data on Friday, January 13th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.08). Citigroup had a return on equity of 8.14% and a net margin of 14.73%. The firm had revenue of $18.01 billion for the quarter, compared to analysts’ expectations of $17.91 billion. Equities analysts expect that Citigroup Inc. will post 5.94 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Monday, February 6th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 4.61%. Citigroup’s dividend payout ratio (DPR) is presently 29.14%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on C. Piper Sandler raised their price target on shares of Citigroup from $47.00 to $51.00 in a report on Tuesday, January 17th. Morgan Stanley cut their price target on shares of Citigroup from $45.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, January 6th. StockNews.com began coverage on shares of Citigroup in a report on Thursday. They set a “hold” rating for the company. Bank of America raised their price target on shares of Citigroup from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Citigroup from $52.00 to $46.00 in a report on Friday, January 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.47.

Insider Activity at Citigroup

In related news, insider Michael Whitaker sold 12,500 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $51.63, for a total value of $645,375.00. Following the completion of the sale, the insider now directly owns 239,429 shares of the company’s stock, valued at $12,361,719.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Michael Whitaker sold 12,500 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $51.63, for a total value of $645,375.00. Following the completion of the sale, the insider now directly owns 239,429 shares of the company’s stock, valued at $12,361,719.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sara Wechter sold 2,950 shares of Citigroup stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $50.77, for a total transaction of $149,771.50. Following the completion of the transaction, the insider now owns 82,779 shares in the company, valued at $4,202,689.83. The disclosure for this sale can be found here. Insiders sold a total of 27,353 shares of company stock valued at $1,403,390 over the last ninety days. Insiders own 0.08% of the company’s stock.

About Citigroup

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Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.