Citigroup Inc. (C) is Sanders Capital LLC’s 7th Largest Position
Sanders Capital LLC cut its position in shares of Citigroup Inc. (NYSE:C) by 28.8% during the first quarter, Holdings Channel reports. The fund owned 11,654,935 shares of the financial services provider’s stock after selling 4,722,678 shares during the period. Citigroup comprises about 4.7% of Sanders Capital LLC’s investment portfolio, making the stock its 7th largest position. Sanders Capital LLC’s holdings in Citigroup were worth $715,802,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of C. Endurance Wealth Management Inc. boosted its position in Citigroup by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock worth $588,000 after buying an additional 25 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in Citigroup by 0.8% in the first quarter. Clear Harbor Asset Management LLC now owns 4,991 shares of the financial services provider’s stock worth $299,000 after buying an additional 38 shares during the last quarter. Norway Savings Bank boosted its position in Citigroup by 0.3% in the first quarter. Norway Savings Bank now owns 13,675 shares of the financial services provider’s stock worth $818,000 after buying an additional 45 shares during the last quarter. Regal Investment Advisors LLC boosted its position in Citigroup by 2.0% in the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock worth $227,000 after buying an additional 74 shares during the last quarter. Finally, Arrow Financial Corp boosted 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 last quarter. 74.92% of the stock is owned by hedge funds and other institutional investors.
Citigroup Inc. (NYSE C) traded up 1.7367% during mid-day trading on Monday, reaching $67.9601. The company’s stock had a trading volume of 5,289,487 shares. The company has a market cap of $185.16 billion, a price-to-earnings ratio of 13.6056 and a beta of 1.48. The firm has a 50 day moving average price of $67.22 and a 200 day moving average price of $61.90. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $69.86.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the firm earned $1.24 EPS. The company’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 year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s payout ratio is 25.55%.
Citigroup announced that its board has approved a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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A number of research firms have issued reports on C. UBS AG raised 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. Vetr cut 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. Keefe, Bruyette & Woods set a $75.00 target price on Citigroup and gave the company a “buy” rating in a research note on Sunday. Jefferies Group LLC reissued a “hold” rating and issued a $68.00 target price on shares of Citigroup in a research note on Friday, May 5th. Finally, Bank of America Corporation reissued a “buy” rating and issued 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, eleven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $69.08.
In related 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 value of $344,850.00. Following the sale, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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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