First Long Island Investors LLC Reduces Position in Citigroup Inc (C)
First Long Island Investors LLC cut its position in shares of Citigroup Inc (NYSE:C) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,832 shares of the financial services provider’s stock after selling 4,127 shares during the quarter. First Long Island Investors LLC’s holdings in Citigroup were worth $5,008,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Advisors LLC boosted its holdings in Citigroup by 349.7% in the second quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 1,336 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in Citigroup in the first quarter worth $116,000. IMA Wealth Inc. bought a new stake in Citigroup in the second quarter worth $129,000. Bedel Financial Consulting Inc. bought a new position in shares of Citigroup during the first quarter valued at $133,000. Finally, Twin Tree Management LP lifted its holdings in shares of Citigroup by 100.4% during the first quarter. Twin Tree Management LP now owns 2,013 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 535,686 shares in the last quarter. Institutional investors own 75.51% of the company’s stock.
C has been the topic of a number of research analyst reports. TheStreet raised Citigroup from a “c” rating to a “b-” rating in a report on Monday, July 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $85.00 price target on shares of Citigroup in a report on Monday, July 16th. Deutsche Bank raised Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Wednesday, June 20th. Daiwa Capital Markets downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price target on the stock. in a report on Thursday, May 17th. Finally, ValuEngine downgraded Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.65.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The company had revenue of $18.47 billion during the quarter, compared to analysts’ expectations of $18.43 billion. Citigroup had a positive return on equity of 8.78% and a negative net margin of 5.45%. research analysts anticipate that Citigroup Inc will post 6.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Monday, August 6th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Friday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.32. Citigroup’s dividend payout ratio is 33.77%.
In related news, CEO Francisco Aristeguieta sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total transaction of $1,085,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raja Akram sold 500 shares of the company’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $69.21, for a total value of $34,605.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
See Also: Marijuana Stocks
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.