Citigroup Inc. (C) Shares Sold by Sonata Capital Group Inc.
Sonata Capital Group Inc. lowered its position in Citigroup Inc. (NYSE:C) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,900 shares of the financial services provider’s stock after selling 150 shares during the period. Sonata Capital Group Inc.’s holdings in Citigroup were worth $595,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Patten Group Inc. lifted its position in Citigroup by 6.6% during the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 110 shares in the last quarter. Dubuque Bank & Trust Co. lifted its position in Citigroup by 60.8% during the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 599 shares in the last quarter. Advantage Investment Management LLC lifted its position in 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 purchasing an additional 1,026 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Citigroup during the first quarter valued at $123,000. Finally, Shine Investment Advisory Services Inc. purchased a new position in Citigroup during the second quarter valued at $123,000. 75.38% of the stock is owned by institutional investors.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were 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 of the company’s stock, valued at approximately $5,239,853.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
Shares of Citigroup Inc. (NYSE C) opened at 72.74 on Friday. Citigroup Inc. has a 52 week low of $45.16 and a 52 week high of $72.90. The firm’s 50-day moving average price is $68.04 and its 200 day moving average price is $63.70. The company has a market capitalization of $198.18 billion, a PE ratio of 14.56 and a beta of 1.47.
Citigroup (NYSE:C) last released its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the company posted $1.24 EPS. The business’s revenue was up 2.0% on a year-over-year basis. Equities analysts predict that Citigroup Inc. will post $5.20 EPS for the current year.
Citigroup declared that its board has authorized a share buyback program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several research firms recently weighed in on C. BidaskClub upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Thursday, September 21st. Royal Bank Of Canada reiterated a “buy” rating and set a $75.00 target price on shares of Citigroup in a research report on Wednesday. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Citigroup in a research report on Wednesday. Deutsche Bank AG reiterated a “hold” rating and set a $67.00 target price (up from $61.00) on shares of Citigroup in a research report on Tuesday, September 26th. Finally, Atlantic Securities reiterated an “overweight” rating and set a $85.00 target price (up from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Citigroup presently has an average rating of “Buy” and a consensus target price of $71.16.
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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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