Citigroup Inc. (C) Holdings Maintained by Webster Bank N. A.
Webster Bank N. A. continued to hold its position in Citigroup Inc. (NYSE:C) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,263 shares of the financial services provider’s stock at the close of the second quarter. Webster Bank N. A.’s holdings in Citigroup were worth $754,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in C. Patten Group Inc. increased its position in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 110 shares during the period. Arrow Financial Corp increased its position in shares of Citigroup by 4.7% during the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after buying an additional 85 shares during the period. Advantage Investment Management LLC increased its position in shares of Citigroup by 109.3% during the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in shares of Citigroup during the first quarter valued at about $123,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Citigroup by 15.0% during the first quarter. Parkside Financial Bank & Trust now owns 2,121 shares of the financial services provider’s stock valued at $127,000 after buying an additional 277 shares during the period. Hedge funds and other institutional investors own 75.38% of the company’s stock.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction that occurred on Friday, August 4th. The shares were 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 in the company, valued at approximately $3,889,494.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction that occurred on 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 sale, the chief executive officer now 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.
Shares of Citigroup Inc. (NYSE:C) traded up 0.49% during mid-day trading on Thursday, hitting $71.81. 6,021,910 shares of the stock were exchanged. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $72.13. The stock’s 50-day moving average price is $68.04 and its 200-day moving average price is $63.70. The company has a market cap of $195.65 billion, a P/E ratio of 14.38 and a beta of 1.47. Citigroup also was the target of some unusual options trading activity on Wednesday. Investors bought 55,869 call options on the stock. This represents an increase of 175% compared to the average daily volume of 20,342 call options.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the business posted $1.24 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
Citigroup declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.79%. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, August 3rd. Citigroup’s payout ratio is presently 25.55%.
Several equities analysts recently issued reports on C shares. ValuEngine upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $73.42 price target on the stock in a research report on Monday, June 26th. Jefferies Group LLC reiterated 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 reiterated 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Citigroup has an average rating of “Buy” and an average price target of $69.79.
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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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