Citigroup Inc. (NYSE:C) is Southpoint Capital Advisors LP’s 9th Largest Position
Southpoint Capital Advisors LP boosted its stake in shares of Citigroup Inc. (NYSE:C) by 26.7% during the first quarter, Holdings Channel reports. The fund owned 1,900,000 shares of the financial services provider’s stock after buying an additional 400,000 shares during the period. Citigroup makes up about 4.8% of Southpoint Capital Advisors LP’s portfolio, making the stock its 9th largest position. Southpoint Capital Advisors LP’s holdings in Citigroup were worth $113,658,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in C. Signaturefd LLC increased its position in shares of Citigroup by 25.1% in the first quarter. Signaturefd LLC now owns 8,218 shares of the financial services provider’s stock valued at $492,000 after buying an additional 1,651 shares during the last quarter. Sii Investments Inc. WI increased its position in shares of Citigroup by 41.6% in the first quarter. Sii Investments Inc. WI now owns 7,666 shares of the financial services provider’s stock valued at $458,000 after buying an additional 2,251 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of Citigroup by 86.8% in the first quarter. Level Four Advisory Services LLC now owns 9,833 shares of the financial services provider’s stock valued at $586,000 after buying an additional 4,568 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Citigroup during the first quarter valued at $445,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Citigroup during the first quarter valued at $22,113,000. 74.89% of the stock is owned by hedge funds and other institutional investors.
Citigroup Inc. (NYSE:C) traded down 0.62% during trading on Friday, hitting $66.80. The stock had a trading volume of 15,172,831 shares. Citigroup Inc. has a 52 week low of $45.16 and a 52 week high of $69.86. The firm has a market cap of $182.00 billion, a PE ratio of 13.37 and a beta of 1.48. The company’s 50-day moving average is $67.22 and its 200 day moving average is $61.90.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the firm earned $1.24 EPS. Citigroup’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.92%. 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 (DPR) is presently 25.55%.
Citigroup declared that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms have recently commented on C. HSBC Holdings plc set a $74.00 price objective on shares of Citigroup and gave the company a “hold” rating in a research note on Friday. Wells Fargo & Company began coverage on shares of Citigroup in a research note on Wednesday. They set an “outperform” rating and a $90.00 price objective for the company. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective for the company in a research note on Thursday, August 3rd. J P Morgan Chase & Co set a $73.50 price objective on shares of Citigroup and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $67.43 to $65.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $69.08.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup 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 owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by company insiders.
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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