Meag Munich Ergo Kapitalanlagegesellschaft MBH Has $20.68 Million Stake in Citigroup Inc. (C)
Meag Munich Ergo Kapitalanlagegesellschaft MBH decreased its position in Citigroup Inc. (NYSE:C) by 7.6% during the second quarter, Holdings Channel reports. The institutional investor owned 309,280 shares of the financial services provider’s stock after selling 25,604 shares during the period. Citigroup comprises 0.9% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s portfolio, making the stock its 21st largest position. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Citigroup were worth $20,677,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Patten Group Inc. increased its stake in Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the period. Dubuque Bank & Trust Co. increased its stake in Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares during the period. Arrow Financial Corp increased its stake in Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after buying an additional 85 shares during the period. Advantage Investment Management LLC increased its stake in Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the period. Finally, Pinnacle Bank bought a new stake in Citigroup during the first quarter valued at $123,000. 74.92% of the stock is owned by institutional investors and hedge funds.
Citigroup Inc. (C) traded down 0.03% during mid-day trading on Wednesday, hitting $67.95. 6,196,645 shares of the stock traded hands. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86. The company’s 50 day moving average price is $67.47 and its 200-day moving average price is $62.13. The stock has a market cap of $185.13 billion, a price-to-earnings ratio of 13.60 and a beta of 1.48.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Analysts predict that Citigroup Inc. will post $5.22 earnings per share for the current year.
Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $15.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 annualized dividend and a yield of 1.88%. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s payout ratio is currently 25.55%.
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C has been the subject of a number of analyst reports. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 price objective for the company. in a report on Monday, June 12th. Keefe, Bruyette & Woods set a $69.00 price objective on shares of Citigroup and gave the company a “buy” rating in a report on Thursday, June 8th. BMO Capital Markets reiterated a “buy” rating and set a $64.00 price objective on shares of Citigroup in a report on Thursday, June 1st. Bank of America Corporation reiterated a “buy” rating and set a $68.00 price objective (up from $64.00) on shares of Citigroup in a report on Tuesday, June 13th. Finally, BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.08.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by 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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