Pinnacle Advisory Group Inc. continued to hold its stake in shares of Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,983 shares of the financial services provider’s stock at the end of the second quarter. Pinnacle Advisory Group Inc.’s holdings in Citigroup were worth $418,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Culbertson A N & Co. Inc. raised its stake in shares of Citigroup by 1.5% in the second quarter. Culbertson A N & Co. Inc. now owns 24,909 shares of the financial services provider’s stock valued at $1,666,000 after buying an additional 370 shares during the last quarter. North Star Investment Management Corp. increased its position in Citigroup by 6.3% in the second quarter. North Star Investment Management Corp. now owns 6,756 shares of the financial services provider’s stock valued at $452,000 after buying an additional 401 shares during the period. Louisiana State Employees Retirement System increased its position in Citigroup by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 170,800 shares of the financial services provider’s stock valued at $11,423,000 after buying an additional 500 shares during the period. LS Investment Advisors LLC increased its position in Citigroup by 2.2% in the second quarter. LS Investment Advisors LLC now owns 97,315 shares of the financial services provider’s stock valued at $6,508,000 after buying an additional 2,096 shares during the period. Finally, Middleton & Co Inc MA increased its position in Citigroup by 14.8% in the second quarter. Middleton & Co Inc MA now owns 55,547 shares of the financial services provider’s stock valued at $3,715,000 after buying an additional 7,150 shares during the period. Institutional investors and hedge funds own 74.89% of the company’s stock.
Shares of Citigroup Inc. (NYSE C) opened at 66.80 on Friday. The company has a market cap of $182.00 billion, a P/E ratio of 13.37 and a beta of 1.48. The company’s 50-day moving average price is $67.22 and its 200-day moving average price is $61.90. Citigroup Inc. has a 12 month low of $45.16 and a 12 month high of $69.86.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. Citigroup’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be paid a $0.32 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s payout ratio is presently 25.55%.
Citigroup declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
C has been the topic of several research reports. Nomura reissued a “buy” rating and set a $69.00 price target on shares of Citigroup in a research note on Monday, April 17th. Zacks Investment Research downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $73.42 target price on the stock in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $78.00 target price (up from $77.00) on shares of Citigroup in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $68.00 target price on shares of Citigroup in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Citigroup has an average rating of “Buy” and a consensus price target of $69.08.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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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