Blair William & Co. IL reduced its position in shares of Citigroup Inc. (NYSE:C) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,629 shares of the financial services provider’s stock after selling 6,208 shares during the period. Blair William & Co. IL’s holdings in Citigroup were worth $11,402,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Arrow Financial Corp boosted its position in Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock worth $113,000 after buying an additional 85 shares during the last quarter. Advantage Investment Management LLC boosted its position in Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,026 shares during the last quarter. Pinnacle Bank bought a new position in Citigroup during the first quarter worth approximately $123,000. Signature Estate & Investment Advisors LLC bought a new position in Citigroup during the first quarter worth approximately $123,000. Finally, Reilly Financial Advisors LLC boosted its position in Citigroup by 60.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,087 shares of the financial services provider’s stock worth $125,000 after buying an additional 786 shares during the last quarter. 74.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (NYSE C) traded down 0.03% during trading on Friday, hitting $66.58. 13,628,933 shares of the stock were exchanged. The stock has a market cap of $181.40 billion, a PE ratio of 13.33 and a beta of 1.48. The stock’s 50 day moving average price is $67.60 and its 200 day moving average price is $62.27. Citigroup Inc. has a one year low of $45.16 and a one year high of $69.86.
Citigroup (NYSE:C) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (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 for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the company posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post $5.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s dividend payout ratio is presently 25.55%.
Citigroup declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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C has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report 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 report on Monday, June 26th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $78.00 target price (up previously from $77.00) on shares of Citigroup in a research report on Thursday, May 4th. Jefferies Group LLC reissued a “hold” rating and set a $68.00 price target on shares of Citigroup in a research report on Friday, July 7th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $72.00 price target (up previously from $64.00) on shares of Citigroup in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $69.08.
In other news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the sale, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were 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 $3,889,494.18. The disclosure for this sale can be found here. Corporate 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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