Sentinel Trust Co. LBA increased its position in shares of Citigroup Inc. (NYSE:C) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,160 shares of the financial services provider’s stock after buying an additional 14,223 shares during the period. Citigroup makes up 1.2% of Sentinel Trust Co. LBA’s portfolio, making the stock its 10th largest position. Sentinel Trust Co. LBA’s holdings in Citigroup were worth $7,568,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Patten Group Inc. increased its position in Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock worth $105,000 after buying an additional 110 shares during the period. Arrow Financial Corp increased 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 period. Advantage Investment Management LLC increased 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 period. Pinnacle Bank acquired a new position in Citigroup during the first quarter worth about $123,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Citigroup during the first quarter worth about $123,000. Hedge funds and other institutional investors own 74.92% of the company’s stock.
Citigroup Inc. (NYSE:C) traded down 0.03% during trading on Friday, reaching $66.58. 13,628,933 shares of the company’s stock traded hands. The firm’s 50 day moving average is $67.60 and its 200-day moving average is $62.27. The company has a market capitalization of $181.40 billion, a price-to-earnings ratio of 13.33 and a beta of 1.48. Citigroup Inc. has a 12 month low of $45.16 and a 12 month high of $69.86.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 EPS. Analysts expect that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.32 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s payout ratio is currently 25.55%.
Citigroup announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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A number of research analysts have recently issued reports on C shares. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 price target on the stock. in a research report on Monday, June 12th. Keefe, Bruyette & Woods set a $69.00 price target on shares of Citigroup and gave the stock a “buy” rating in a research report on Thursday, June 8th. BMO Capital Markets restated a “buy” rating and issued a $64.00 price target on shares of Citigroup in a research report on Thursday, June 1st. Bank of America Corporation restated a “buy” rating and issued a $68.00 price target (up from $64.00) on shares of Citigroup in a research report on Tuesday, June 13th. Finally, BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $69.08.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. 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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