Citigroup Inc. (C) Shares Sold by Columbia Partners L L C Investment Management
Columbia Partners L L C Investment Management lowered its position in Citigroup Inc. (NYSE:C) by 51.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,081 shares of the financial services provider’s stock after selling 21,500 shares during the period. Columbia Partners L L C Investment Management’s holdings in Citigroup were worth $1,201,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Patten Group Inc. raised its stake 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 worth $105,000 after buying an additional 110 shares in the last quarter. Arrow Financial Corp raised its stake in shares of 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 in the last quarter. Advantage Investment Management LLC raised its stake in shares of Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,026 shares in the last quarter. Pinnacle Bank acquired a new stake in shares of Citigroup during the first quarter worth about $123,000. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Citigroup during the first quarter worth about $123,000. 74.92% of the stock is owned by hedge funds and other institutional investors.
Citigroup Inc. (NYSE:C) traded down 0.0387% during mid-day trading on Wednesday, hitting $67.9437. The stock had a trading volume of 5,072,197 shares. The firm has a 50-day moving average of $67.47 and a 200-day moving average of $62.13. The stock has a market cap of $185.12 billion, a P/E ratio of 13.6023 and a beta of 1.48. 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, beating the consensus estimate of $1.21 by $0.07. The firm had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 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 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.24 earnings per share. On average, analysts forecast that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
The firm also recently announced 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 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is 25.55%.
Citigroup declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to buyback $15.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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C has been the subject of a number of research analyst reports. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 price target for the company. in a research note on Monday, June 12th. Keefe, Bruyette & Woods set a $69.00 price target on Citigroup and gave the stock a “buy” rating in a research note on Thursday, June 8th. BMO Capital Markets reissued a “buy” rating and set a $64.00 price target on shares of Citigroup in a research note on Thursday, June 1st. Bank of America Corporation reissued a “buy” rating and set a $68.00 price target (up from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Finally, BidaskClub raised Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and a consensus price target of $69.08.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’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 of the company’s stock, valued at $3,889,494.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
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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