Oldfield Partners LLP Has $196.75 Million Position in Citigroup Inc. (NYSE:C)
Oldfield Partners LLP cut its position in shares of Citigroup Inc. (NYSE:C) by 27.1% during the second quarter, Holdings Channel reports. The institutional investor owned 3,039,503 shares of the financial services provider’s stock after selling 1,129,281 shares during the period. Citigroup comprises 17.1% of Oldfield Partners LLP’s holdings, making the stock its largest position. Oldfield Partners LLP’s holdings in Citigroup were worth $196,749,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of C. Raymond James Trust N.A. boosted its stake in Citigroup by 4.1% in the first quarter. Raymond James Trust N.A. now owns 39,624 shares of the financial services provider’s stock worth $2,371,000 after buying an additional 1,578 shares in the last quarter. Creative Planning boosted its stake in Citigroup by 12.0% in the first quarter. Creative Planning now owns 208,886 shares of the financial services provider’s stock worth $12,496,000 after buying an additional 22,436 shares in the last quarter. Trust Co. of Oklahoma boosted its stake in Citigroup by 3.3% in the first quarter. Trust Co. of Oklahoma now owns 30,409 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 958 shares in the last quarter. Sheets Smith Wealth Management acquired a new stake in Citigroup during the first quarter worth $2,956,000. Finally, Augustine Asset Management Inc. boosted its stake in Citigroup by 14.0% in the first quarter. Augustine Asset Management Inc. now owns 95,906 shares of the financial services provider’s stock worth $5,737,000 after buying an additional 11,752 shares in the last quarter. Institutional investors own 74.89% of the company’s stock.
Shares of Citigroup Inc. (C) traded down 1.17% during midday trading on Thursday, reaching $67.63. The company’s stock had a trading volume of 9,960,770 shares. The stock has a 50 day moving average of $67.03 and a 200-day moving average of $61.79. The company has a market capitalization of $184.26 billion, a P/E ratio of 13.54 and a beta of 1.48. Citigroup Inc. has a 1-year low of $44.51 and a 1-year high of $69.86.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating 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 company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the business earned $1.24 earnings per share. Citigroup’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Citigroup Inc. will post $5.22 earnings per share for the current year.
Citigroup announced that its Board of Directors has approved a stock repurchase plan 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 reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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 paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.87%. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio (DPR) is presently 25.55%.
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C has been the topic of a number of analyst reports. Nomura restated a “buy” rating and issued a $69.00 price target on shares of Citigroup in a research note on Monday, April 17th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $66.90 price target on the stock. in a research note on Tuesday, April 25th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $78.00 price target (up from $77.00) on shares of Citigroup in a research note on Thursday, May 4th. Jefferies Group LLC restated a “hold” rating and issued a $68.00 price target on shares of Citigroup in a research note on Friday, May 5th. Finally, BMO Capital Markets restated a “buy” rating and issued a $64.00 price target on shares of Citigroup in a research note on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Citigroup currently has an average rating of “Buy” and an average price target of $68.95.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction that occurred 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 $3,889,494.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by company 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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