Citigroup Inc. (NYSE:C) Shares Bought by RE Advisers Corp
RE Advisers Corp increased its stake in Citigroup Inc. (NYSE:C) by 12.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 915,000 shares of the financial services provider’s stock after buying an additional 100,000 shares during the period. RE Advisers Corp’s holdings in Citigroup were worth $61,195,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in Citigroup during the first quarter valued at $877,000. Advisor Partners LLC boosted its position in Citigroup by 10.6% in the first quarter. Advisor Partners LLC now owns 48,936 shares of the financial services provider’s stock valued at $2,927,000 after buying an additional 4,685 shares during the period. Capital Advisors Inc. OK boosted its position in Citigroup by 2.1% in the first quarter. Capital Advisors Inc. OK now owns 393,431 shares of the financial services provider’s stock valued at $23,535,000 after buying an additional 8,070 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Citigroup by 7.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 9,680,474 shares of the financial services provider’s stock valued at $579,086,000 after buying an additional 672,933 shares during the period. Finally, Honkamp Krueger Financial Services Inc. boosted its position in Citigroup by 6.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,386 shares of the financial services provider’s stock valued at $262,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 74.89% of the company’s stock.
Citigroup Inc. (NYSE:C) traded down 0.222% during trading on Friday, hitting $67.071. 8,450,507 shares of the stock were exchanged. Citigroup Inc. has a 52 week low of $45.16 and a 52 week high of $69.86. The firm’s 50-day moving average is $67.13 and its 200 day moving average is $61.83. The firm has a market cap of $182.74 billion, a PE ratio of 13.428 and a beta of 1.48.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the business earned $1.24 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
Citigroup declared that its Board of Directors has approved a stock 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 purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be issued a $0.32 dividend. The ex-dividend date is Thursday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a yield of 1.90%. Citigroup’s dividend payout ratio is 25.55%.
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Several brokerages have commented on C. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $66.90 target price for the company. in a research report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. Jefferies Group LLC reiterated a “hold” rating and set a $68.00 target price on shares of Citigroup in a research report on Monday, May 15th. BMO Capital Markets reiterated a “buy” rating and set a $64.00 target price on shares of Citigroup in a research report on Thursday, June 1st. Finally, Buckingham Research reiterated a “buy” rating and set a $81.00 target price (up previously from $70.00) on shares of Citigroup in a research report on Monday, July 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and an average target price of $69.08.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by corporate insiders.
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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