IFC Holdings Incorporated FL Raises Holdings in Citigroup Inc. (C)
IFC Holdings Incorporated FL grew its holdings in shares of Citigroup Inc. (NYSE:C) by 21.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,936 shares of the financial services provider’s stock after purchasing an additional 1,782 shares during the quarter. IFC Holdings Incorporated FL’s holdings in Citigroup were worth $661,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of C. BlackRock Inc. boosted its position in Citigroup by 2,718.7% during the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares during the period. FMR LLC boosted its position in shares of Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after acquiring an additional 16,257,931 shares during the period. Bank of New York Mellon Corp boosted its position in shares of 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 valued at $2,582,269,000 after acquiring an additional 10,294,403 shares during the period. Harris Associates L P boosted its position in shares of 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 valued at $2,460,384,000 after acquiring an additional 8,464,257 shares during the period. Finally, Pioneer Investment Management Inc. boosted its position in shares of Citigroup by 2,317.8% in the second quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock valued at $334,536,000 after acquiring an additional 4,795,145 shares during the period. Hedge funds and other institutional investors own 75.38% of the company’s stock.
In related news, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the sale, the chief executive officer now owns 77,570 shares in the company, valued at approximately $5,239,853.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey R. Walsh sold 5,000 shares of the 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 sale, the insider now owns 56,394 shares in the company, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
Citigroup Inc. (NYSE:C) opened at 74.06 on Thursday. The company has a 50 day moving average of $69.29 and a 200 day moving average of $64.57. The stock has a market capitalization of $201.78 billion, a P/E ratio of 14.83 and a beta of 1.45. Citigroup Inc. has a 52 week low of $47.54 and a 52 week high of $74.74.
Citigroup (NYSE:C) last released its quarterly earnings results 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 analyst estimates of $17.38 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts expect that Citigroup Inc. will post $5.20 EPS for the current fiscal year.
Citigroup announced that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of research firms have recently commented on C. UBS AG upgraded shares of Citigroup from a “sell” rating to a “neutral” rating and raised their price objective for the company from $58.00 to $64.00 in a research report on Friday, June 9th. Keefe, Bruyette & Woods set a $75.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research report on Sunday, August 13th. Wells Fargo & Company restated a “buy” rating on shares of Citigroup in a research report on Monday. Raymond James Financial, Inc. restated an “underperform” rating on shares of Citigroup in a research report on Wednesday, September 27th. Finally, Atlantic Securities restated an “overweight” rating and issued a $85.00 price objective (up from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.43.
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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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