Boston Private Wealth LLC lifted its position in shares of Citigroup Inc. (NYSE:C) by 8.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,955 shares of the financial services provider’s stock after purchasing an additional 20,037 shares during the quarter. Boston Private Wealth LLC’s holdings in Citigroup were worth $16,517,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of C. Waldron LP raised its position in shares of Citigroup by 21.2% during the first quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 1,276 shares during the period. Terra Nova Asset Management LLC acquired a new position in shares of Citigroup during the first quarter worth approximately $291,000. Karpas Strategies LLC raised its position in shares of Citigroup by 0.6% during the first quarter. Karpas Strategies LLC now owns 42,734 shares of the financial services provider’s stock worth $2,556,000 after purchasing an additional 234 shares during the period. Davis R M Inc. raised its position in shares of Citigroup by 18.8% during the first quarter. Davis R M Inc. now owns 4,158 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 658 shares during the period. Finally, Pinnacle Financial Partners Inc. raised its position in shares of Citigroup by 4.5% during the first quarter. Pinnacle Financial Partners Inc. now owns 42,914 shares of the financial services provider’s stock worth $2,567,000 after purchasing an additional 1,830 shares during the period. 75.37% of the stock is currently owned by institutional investors.
Citigroup Inc. (NYSE C) opened at 72.37 on Friday. The stock’s 50 day moving average price is $70.67 and its 200 day moving average price is $65.24. Citigroup Inc. has a 1-year low of $47.70 and a 1-year high of $76.14. The company has a market cap of $197.18 billion, a P/E ratio of 14.49 and a beta of 1.45.
Citigroup (NYSE:C) last posted its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. The company had revenue of $18.17 billion during the quarter, compared to analysts’ expectations of $17.87 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. Citigroup’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post $5.21 earnings per share for the current fiscal year.
Citigroup announced that its board has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have recently weighed in on C shares. Bank of America Corporation reaffirmed a “neutral” rating on shares of Citigroup in a research report on Wednesday. Credit Suisse Group reaffirmed an “outperform” rating and set a $76.00 target price (up from $70.00) on shares of Citigroup in a research report on Wednesday, July 26th. BidaskClub lowered Citigroup from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Citigroup in a research report on Monday, October 2nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $74.17.
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 owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The transaction was disclosed in a filing 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 shares were 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 approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.
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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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