Citigroup Inc. (NYSE:C) Position Decreased by Stelliam Investment Management LP
Stelliam Investment Management LP reduced its position in shares of Citigroup Inc. (NYSE:C) by 35.4% during the first quarter, Holdings Channel reports. The firm owned 975,000 shares of the financial services provider’s stock after selling 535,000 shares during the period. Citigroup makes up 2.2% of Stelliam Investment Management LP’s investment portfolio, making the stock its 16th largest position. Stelliam Investment Management LP’s holdings in Citigroup were worth $58,325,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in C. Sheets Smith Wealth Management bought a new position in Citigroup during the first quarter worth $2,956,000. Augustine Asset Management Inc. raised its stake in shares of Citigroup by 14.0% in the first quarter. Augustine Asset Management Inc. now owns 95,906 shares of the financial services provider’s stock worth $5,737,000 after buying an additional 11,752 shares during the last quarter. Nexus Investment Management Inc. raised its stake in shares of Citigroup by 0.3% in the first quarter. Nexus Investment Management Inc. now owns 372,625 shares of the financial services provider’s stock worth $22,290,000 after buying an additional 1,250 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Citigroup by 7.6% in the first quarter. Quadrant Capital Group LLC now owns 6,626 shares of the financial services provider’s stock worth $385,000 after buying an additional 467 shares during the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of Citigroup by 9.7% in the first quarter. Carroll Financial Associates Inc. now owns 5,686 shares of the financial services provider’s stock worth $340,000 after buying an additional 503 shares during the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.
Shares of Citigroup Inc. (C) traded down 0.27% on Friday, reaching $67.04. The company’s stock had a trading volume of 5,079,110 shares. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86. The company’s 50 day moving average is $67.13 and its 200-day moving average is $61.82. The firm has a market cap of $182.65 billion, a price-to-earnings ratio of 13.42 and a beta of 1.48.
Citigroup (NYSE:C) last released its quarterly earnings data 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. 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 the consensus estimate of $17.38 billion. During the same quarter last year, the business posted $1.24 EPS. Citigroup’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post $5.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be issued a dividend of $0.32 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.90%. Citigroup’s dividend payout ratio (DPR) is 25.55%.
Citigroup declared that its Board of Directors has initiated 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 repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
C has been the subject of a number of research reports. Nomura restated a “buy” rating and set a $69.00 price objective on shares of Citigroup in a research report on Monday, April 17th. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $66.90 price objective for the company. in a research report on Tuesday, April 25th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $78.00 price objective (up from $77.00) on shares of Citigroup in a research report on Thursday, May 4th. Jefferies Group LLC restated a “hold” rating and set a $68.00 price objective on shares of Citigroup in a research report on Friday, May 5th. Finally, BMO Capital Markets restated a “buy” rating and set a $64.00 price objective on shares of Citigroup in a research report on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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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