Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 59,591 Shares of Citigroup Inc. (C)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its position in shares of Citigroup Inc. (NYSE:C) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,062 shares of the financial services provider’s stock after selling 59,591 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Citigroup were worth $26,756,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of 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 acquiring an additional 189,447,104 shares during the last quarter. FMR LLC lifted its stake 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 worth $6,325,535,000 after acquiring an additional 16,257,931 shares during the period. Bank of New York Mellon Corp lifted its stake 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 worth $2,582,269,000 after acquiring an additional 10,294,403 shares during the period. Harris Associates L P lifted its stake 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 worth $2,460,384,000 after acquiring an additional 8,464,257 shares during the period. Finally, Pioneer Investment Management Inc. lifted its stake 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 worth $334,536,000 after acquiring an additional 4,795,145 shares during the period. 75.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (C) opened at 73.80 on Tuesday. Citigroup Inc. has a one year low of $47.08 and a one year high of $73.89. The company has a market capitalization of $201.07 billion, a price-to-earnings ratio of 14.77 and a beta of 1.45. The company’s 50-day moving average price is $68.94 and its 200-day moving average price is $64.41.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Citigroup Inc. will post $5.20 earnings per share for the current year.
Citigroup declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently issued reports on the stock. Atlantic Securities restated an “overweight” rating and issued a $85.00 price target (up previously from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 target price for the company in a research note on Thursday, August 3rd. Buckingham Research reissued a “buy” rating and set a $81.00 target price (up previously from $70.00) on shares of Citigroup in a research note on Monday, July 10th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $72.00 target price (up previously from $64.00) on shares of Citigroup in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Citigroup presently has an average rating of “Buy” and an average target price of $71.16.
In other news, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.
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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