Harbor Advisors LLC Has $299,000 Position in Citigroup Inc. (NYSE:C)
Harbor Advisors LLC held its stake in shares of Citigroup Inc. (NYSE:C) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the financial services provider’s stock at the end of the first quarter. Harbor Advisors LLC’s holdings in Citigroup were worth $299,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after buying an additional 189,447,104 shares during the period. FMR LLC boosted its position in Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after buying an additional 16,257,931 shares during the period. Bank of New York Mellon Corp boosted its position in Citigroup by 31.3% in the first quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock worth $2,582,269,000 after buying an additional 10,294,403 shares during the period. Harris Associates L P boosted its position in Citigroup by 25.9% in the first quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock worth $2,460,384,000 after buying an additional 8,464,257 shares during the period. Finally, Vanguard Group Inc. boosted its position in Citigroup by 2.5% in the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock worth $10,958,960,000 after buying an additional 4,391,347 shares during the period. Institutional investors own 74.89% of the company’s stock.
Citigroup Inc. (NYSE:C) traded down 0.62% during trading on Friday, hitting $66.80. 15,172,831 shares of the stock traded hands. Citigroup Inc. has a 12 month low of $45.16 and a 12 month high of $69.86. The company’s 50 day moving average price is $67.22 and its 200 day moving average price is $61.90. The company has a market cap of $182.00 billion, a P/E ratio of 13.37 and a beta of 1.48.
Citigroup (NYSE:C) last released its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. On average, equities research analysts anticipate that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 7th will be issued a $0.32 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s payout ratio is presently 25.55%.
Citigroup declared that its board has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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C has been the topic of a number of analyst reports. Credit Suisse Group reiterated an “outperform” rating and set a $76.00 price objective (up previously from $70.00) on shares of Citigroup in a research report on Wednesday, July 26th. BidaskClub cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Deutsche Bank AG reiterated a “hold” rating on shares of Citigroup in a research report on Monday, July 3rd. HSBC Holdings plc began coverage on shares of Citigroup in a research report on Tuesday, July 11th. They set a “hold” rating and a $71.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Two equities research 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 stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.08.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the transaction, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.
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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