33,055 Shares in Citigroup Inc. (C) Purchased by Parkside Investments LLC
Parkside Investments LLC acquired a new position in Citigroup Inc. (NYSE:C) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,055 shares of the financial services provider’s stock, valued at approximately $2,211,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in C. BlackRock Inc. raised its stake in Citigroup by 2,718.7% during the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after buying an additional 189,447,104 shares during the last quarter. FMR LLC raised its stake in Citigroup by 18.2% during the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after buying an additional 16,257,931 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Citigroup by 31.3% during the 1st quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after buying an additional 10,294,403 shares during the last quarter. Harris Associates L P raised its stake in Citigroup by 25.9% during the 1st quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock valued at $2,460,384,000 after buying an additional 8,464,257 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its stake in Citigroup by 2,317.8% during the 2nd quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock valued at $334,536,000 after buying an additional 4,795,145 shares during the last quarter. Institutional investors own 75.38% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 target price for the company. in a research note on Monday, July 3rd. UBS AG upgraded shares of Citigroup from a “sell” rating to a “neutral” rating and boosted their target price for the company from $58.00 to $64.00 in a research note on Friday, June 9th. Royal Bank Of Canada reiterated a “buy” rating and set a $75.00 target price on shares of Citigroup in a research note on Wednesday, September 27th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $78.50 target price (up from $77.50) on shares of Citigroup in a research note on Friday. Finally, Bank of America Corporation reiterated a “buy” rating and set a $68.00 target price (up from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $71.65.
Citigroup Inc. (C) opened at 75.64 on Friday. Citigroup Inc. has a one year low of $47.54 and a one year high of $76.02. The company has a market cap of $206.09 billion, a P/E ratio of 15.14 and a beta of 1.45. The company has a 50-day moving average of $69.77 and a 200 day moving average of $64.77. Citigroup also was the target of some unusual options trading activity on Thursday. Investors purchased 71,029 call options on the stock. This represents an increase of approximately 192% compared to the average volume of 24,344 call options.
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 Thomson Reuters’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 earnings per share. Analysts anticipate that Citigroup Inc. will post $5.21 earnings per share for the current year.
Citigroup declared that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, 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 transaction of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at $5,239,853.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. 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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