Citigroup Inc. (C) Stake Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. grew its position in shares of Citigroup Inc. (NYSE:C) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,838,837 shares of the financial services provider’s stock after acquiring an additional 84,749 shares during the period. Citigroup comprises 0.7% of Schwab Charles Investment Management Inc.’s portfolio, making the stock its 23rd largest position. Schwab Charles Investment Management Inc. owned 0.40% of Citigroup worth $724,902,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Wetherby Asset Management Inc. increased its stake in shares of Citigroup by 2.2% during the second quarter. Wetherby Asset Management Inc. now owns 42,781 shares of the financial services provider’s stock valued at $2,861,000 after buying an additional 913 shares during the period. GenTrust LLC bought a new position in shares of Citigroup during the second quarter valued at approximately $224,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Citigroup by 5.3% during the second quarter. Kovitz Investment Group Partners LLC now owns 632,142 shares of the financial services provider’s stock valued at $42,278,000 after acquiring an additional 31,646 shares in the last quarter. Cigna Investments Inc. New raised its holdings in shares of Citigroup by 1.2% during the second quarter. Cigna Investments Inc. New now owns 116,080 shares of the financial services provider’s stock valued at $7,763,000 after acquiring an additional 1,429 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Citigroup in the second quarter worth $123,000. 75.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (NYSE:C) opened at 72.74 on Monday. The stock’s 50 day moving average is $68.04 and its 200-day moving average is $63.70. The stock has a market cap of $198.18 billion, a P/E ratio of 14.56 and a beta of 1.45. Citigroup Inc. has a one year low of $46.06 and a one year high of $72.97.
Citigroup (NYSE:C) last posted its quarterly earnings data 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. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. On average, equities analysts forecast that Citigroup Inc. will post $5.20 EPS for the current year.
Citigroup declared that its board has initiated a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in 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 usually an indication that the company’s management believes its stock is undervalued.
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C has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $75.00 price target on shares of Citigroup in a report on Wednesday, September 27th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Citigroup in a research report on Wednesday, September 27th. Deutsche Bank AG restated a “hold” rating and issued a $67.00 price objective (up from $61.00) on shares of Citigroup in a report on Tuesday, September 26th. Atlantic Securities restated an “overweight” rating and issued a $85.00 price objective (up from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Finally, BidaskClub raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.16.
In related news, 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 value of $2,702,000.00. Following the completion of the sale, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’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 sale, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. Corporate 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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