RNC Capital Management LLC Sells 455 Shares of Citigroup Inc. (C)
RNC Capital Management LLC lowered its stake in Citigroup Inc. (NYSE:C) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,815 shares of the financial services provider’s stock after selling 455 shares during the period. RNC Capital Management LLC’s holdings in Citigroup were worth $4,528,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC increased its stake in shares of Citigroup by 95.1% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,926 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,426 shares in the last quarter. Winslow Evans & Crocker Inc. increased its stake in shares of Citigroup by 9.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,674 shares of the financial services provider’s stock worth $156,000 after buying an additional 321 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of Citigroup by 26.1% in the second quarter. Kistler Tiffany Companies LLC now owns 4,589 shares of the financial services provider’s stock worth $195,000 after buying an additional 950 shares in the last quarter. Davis R M Inc. acquired a new stake in shares of Citigroup during the second quarter worth approximately $208,000. Finally, Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of Citigroup by 0.8% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,434 shares of the financial services provider’s stock worth $230,000 after buying an additional 43 shares in the last quarter. 71.70% of the stock is owned by institutional investors.
Shares of Citigroup Inc. (NYSE:C) traded down 1.42% during trading on Friday, reaching $46.41. The company had a trading volume of 24,820,832 shares. Citigroup Inc. has a 12-month low of $34.52 and a 12-month high of $56.46. The firm has a 50-day moving average of $46.10 and a 200-day moving average of $44.23. The company has a market cap of $134.84 billion, a P/E ratio of 9.82 and a beta of 1.90.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.14. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The company earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. During the same period in the prior year, the company earned $1.45 earnings per share. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Citigroup Inc. will post $4.62 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 1st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.38%. This is a boost from Citigroup’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, July 28th. Citigroup’s dividend payout ratio is 13.59%.
A number of brokerages have recently commented on C. Goldman Sachs Group Inc. downgraded Citigroup from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $50.00 in a research report on Friday. Vetr cut Citigroup from a “hold” rating to a “sell” rating and set a $45.31 target price on the stock. in a report on Wednesday. Societe Generale cut Citigroup from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. Nomura reduced their target price on Citigroup from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, September 7th. Finally, TheStreet upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $55.17.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the sale, the insider now directly owns 35,042 shares in the company, valued at $1,554,112.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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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