Dynamic Capital Management Ltd Takes Position in Citigroup Inc. (C)
Dynamic Capital Management Ltd bought a new position in Citigroup Inc. (NYSE:C) during the first quarter, Holdings Channel reports. The fund bought 4,222 shares of the financial services provider’s stock, valued at approximately $253,000.
Other institutional investors have also made changes to their positions in the company. Arrow Financial Corp boosted its position in shares of 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 last quarter. Advantage Investment Management LLC increased its stake in shares of 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. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Citigroup during the first quarter worth approximately $123,000. Pinnacle Bank purchased a new stake in shares of Citigroup during the first quarter worth approximately $123,000. Finally, Reilly Financial Advisors LLC increased its stake in shares of 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. Institutional investors own 74.89% of the company’s stock.
Citigroup Inc. (NYSE:C) traded down 0.95% during mid-day trading on Thursday, reaching $67.78. 3,763,683 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $67.03 and its 200 day moving average price is $61.79. Citigroup Inc. has a 12 month low of $44.51 and a 12 month high of $69.86. The stock has a market capitalization of $184.67 billion, a PE ratio of 13.57 and a beta of 1.48.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping the 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%. Citigroup’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $1.24 earnings per share. Equities research analysts predict that Citigroup Inc. will post $5.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be given a $0.32 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is 25.55%.
Citigroup declared that its Board of Directors has initiated a share 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 repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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A number of brokerages have recently commented on C. UBS AG upgraded shares of Citigroup from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $58.00 to $64.00 in a report on Friday, June 9th. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price target for the company in a report on Thursday, August 3rd. Wells Fargo & Company began coverage on shares of Citigroup in a report on Wednesday. They set an “outperform” rating and a $90.00 price target for the company. BMO Capital Markets reiterated a “buy” rating and set a $64.00 price target on shares of Citigroup in a report on Thursday, June 1st. Finally, BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Citigroup currently has a consensus rating of “Buy” and a consensus target price of $68.95.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup 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 completion of the transaction, the insider now directly owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by company 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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