Citigroup Inc. (C) Stake Increased by Signaturefd LLC
Signaturefd LLC boosted its stake in Citigroup Inc. (NYSE:C) by 25.1% during the first quarter, Holdings Channel reports. The institutional investor owned 8,218 shares of the financial services provider’s stock after buying an additional 1,651 shares during the period. Signaturefd LLC’s holdings in Citigroup were worth $492,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. Arrow Financial Corp boosted its stake 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 period. Advantage Investment Management LLC boosted its stake in 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 during the period. Pinnacle Bank bought a new stake in Citigroup during the first quarter worth approximately $123,000. Signature Estate & Investment Advisors LLC bought a new stake in Citigroup during the first quarter worth approximately $123,000. Finally, Reilly Financial Advisors LLC boosted its stake in Citigroup by 60.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,087 shares of the financial services provider’s stock worth $125,000 after buying an additional 786 shares during the period. 74.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (NYSE C) traded down 0.62% on Friday, reaching $66.80. 15,172,831 shares of the company traded hands. The firm has a market capitalization of $182.00 billion, a P/E ratio of 13.37 and a beta of 1.48. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86. The stock has a 50-day moving average price of $67.22 and a 200 day moving average price of $61.90.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The company had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. Citigroup’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $1.24 earnings per share. Analysts anticipate that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.92%. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is presently 25.55%.
Citigroup declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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A number of equities research analysts recently commented on C shares. Keefe, Bruyette & Woods set a $69.00 price target on shares of Citigroup and gave the stock a “buy” rating in a report on Thursday, June 8th. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 price target on the stock. in a report on Monday, June 12th. Nomura reaffirmed a “buy” rating and issued a $69.00 price target on shares of Citigroup in a report on Monday, April 17th. BMO Capital Markets reaffirmed a “buy” rating and issued a $64.00 price target on shares of Citigroup in a report on Thursday, June 1st. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $68.00 price target (up previously from $64.00) on shares of Citigroup in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $69.08.
In related news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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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