Seven Eight Capital LP Increases Stake in Citigroup Inc. (C)
Seven Eight Capital LP lifted its position in shares of Citigroup Inc. (NYSE:C) by 156.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,500 shares of the financial services provider’s stock after purchasing an additional 63,700 shares during the quarter. Citigroup makes up about 1.0% of Seven Eight Capital LP’s investment portfolio, making the stock its 5th largest position. Seven Eight Capital LP’s holdings in Citigroup were worth $6,989,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Eagle Global Advisors LLC boosted its stake in Citigroup by 59.4% in the 1st quarter. Eagle Global Advisors LLC now owns 5,538 shares of the financial services provider’s stock valued at $331,000 after buying an additional 2,063 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Citigroup by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,153 shares of the financial services provider’s stock valued at $3,060,000 after buying an additional 7,321 shares in the last quarter. Lockheed Martin Investment Management Co. boosted its stake in Citigroup by 39.6% in the 1st quarter. Lockheed Martin Investment Management Co. now owns 78,200 shares of the financial services provider’s stock valued at $4,678,000 after buying an additional 22,200 shares in the last quarter. Rational Advisors LLC boosted its stake in Citigroup by 184.6% in the 1st quarter. Rational Advisors LLC now owns 13,800 shares of the financial services provider’s stock valued at $826,000 after buying an additional 8,951 shares in the last quarter. Finally, Davidson & Garrard Inc. boosted its stake in Citigroup by 3.0% in the 1st quarter. Davidson & Garrard Inc. now owns 28,994 shares of the financial services provider’s stock valued at $1,734,000 after buying an additional 840 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the company. Keefe, Bruyette & Woods set a $75.00 price objective on Citigroup and gave the stock a “buy” rating in a research note on Sunday, August 13th. Wells Fargo & Company reissued a “buy” rating on shares of Citigroup in a research note on Monday, October 2nd. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Citigroup in a research note on Wednesday, September 27th. Atlantic Securities reissued an “overweight” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $67.00 price objective (up previously from $61.00) on shares of Citigroup in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $74.77.
Shares of Citigroup Inc. (NYSE:C) opened at $73.80 on Tuesday. Citigroup Inc. has a fifty-two week low of $47.70 and a fifty-two week high of $76.14. The stock has a market capitalization of $195,788.36, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.46 and a beta of 1.57. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11.
Citigroup (NYSE:C) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The company had revenue of $18.17 billion during the quarter, compared to the consensus estimate of $17.87 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. sell-side analysts predict that Citigroup Inc. will post 5.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. Citigroup’s dividend payout ratio (DPR) is currently 24.66%.
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In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 77,570 shares in the company, valued at $5,239,853.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate 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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