Trust Asset Management LLC maintained its stake in Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,561 shares of the financial services provider’s stock at the end of the second quarter. Citigroup accounts for approximately 0.2% of Trust Asset Management LLC’s holdings, making the stock its 25th largest position. Trust Asset Management LLC’s holdings in Citigroup were worth $573,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in C. Silvercrest Asset Management Group LLC boosted its position in Citigroup by 17.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 296,366 shares of the financial services provider’s stock worth $17,613,000 after buying an additional 44,792 shares during the last quarter. Girard Securities Inc. bought a new position in Citigroup during the fourth quarter worth $238,000. GSA Capital Partners LLP bought a new position in Citigroup during the fourth quarter worth $937,000. Discovery Capital Management LLC CT bought a new position in Citigroup during the fourth quarter worth $39,355,000. Finally, SRS Capital Advisors Inc. bought a new position in Citigroup during the fourth quarter worth $202,000. Institutional investors and hedge funds own 74.89% of the company’s stock.
Citigroup Inc. (NYSE C) opened at 66.80 on Friday. The firm has a market cap of $182.00 billion, a price-to-earnings ratio of 13.37 and a beta of 1.48. The company’s 50-day moving average is $67.22 and its 200 day moving average 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 released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. On average, equities research analysts predict that Citigroup Inc. will post $5.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 7th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is presently 25.55%.
Citigroup declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to buyback $15.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have recently issued reports on the stock. Nomura reiterated a “buy” rating and set a $69.00 price target on shares of Citigroup in a research note on Monday, April 17th. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $66.90 price target on the stock. in a research note on Tuesday, April 25th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $78.00 price target (up from $77.00) on shares of Citigroup in a research note on Thursday, May 4th. Jefferies Group LLC reiterated a “hold” rating and set a $68.00 price target on shares of Citigroup in a research note on Friday, May 5th. Finally, BMO Capital Markets restated a “buy” rating and issued a $64.00 price objective on shares of Citigroup in a research note on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $69.08.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the 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 sale, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.10% of the company’s stock.
Citigroup Company Profile
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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