Keel Point LLC lowered its position in Citigroup Inc. (NYSE:C) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,551 shares of the financial services provider’s stock after selling 1,318 shares during the period. Keel Point LLC’s holdings in Citigroup were worth $870,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Sheets Smith Wealth Management acquired a new stake in shares of Citigroup during the first quarter valued at approximately $2,956,000. Augustine Asset Management Inc. raised its stake in shares of Citigroup by 14.0% in the first quarter. Augustine Asset Management Inc. now owns 95,906 shares of the financial services provider’s stock valued at $5,737,000 after buying an additional 11,752 shares in the last quarter. Nexus Investment Management Inc. raised its stake in shares of Citigroup by 0.3% in the first quarter. Nexus Investment Management Inc. now owns 372,625 shares of the financial services provider’s stock valued at $22,290,000 after buying an additional 1,250 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Citigroup by 7.6% in the first quarter. Quadrant Capital Group LLC now owns 6,626 shares of the financial services provider’s stock valued at $385,000 after buying an additional 467 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of Citigroup by 9.7% in the first quarter. Carroll Financial Associates Inc. now owns 5,686 shares of the financial services provider’s stock valued at $340,000 after buying an additional 503 shares in the last quarter. Institutional investors own 74.89% of the company’s stock.
Citigroup Inc. (NYSE C) traded down 0.06% during mid-day trading on Friday, reaching $67.18. 5,491,987 shares of the company traded hands. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $69.86. The stock has a market capitalization of $183.04 billion, a PE ratio of 13.45 and a beta of 1.48. The stock has a 50-day moving average of $67.13 and a 200 day moving average of $61.82.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Equities research analysts expect that Citigroup Inc. will post $5.22 earnings per share for the current year.
Citigroup announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.90%. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio (DPR) is currently 25.55%.
C has been the topic of several research reports. J P Morgan Chase & Co set a $73.50 target price on Citigroup and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Vetr downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 target price on the stock. in a research report on Monday, July 31st. Wells Fargo & Company initiated coverage on Citigroup in a research report on Wednesday. They issued an “outperform” rating and a $90.00 target price on the stock. Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a research report on Monday, July 3rd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $76.00 target price (up from $70.00) on shares of Citigroup in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $69.08.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the transaction, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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