State of Wisconsin Investment Board Boosts Holdings in Citigroup Inc. (C)
State of Wisconsin Investment Board boosted its position in shares of Citigroup Inc. (NYSE:C) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,842,432 shares of the financial services provider’s stock after buying an additional 419,830 shares during the quarter. Citigroup makes up approximately 0.8% of State of Wisconsin Investment Board’s holdings, making the stock its 18th largest holding. State of Wisconsin Investment Board owned about 0.14% of Citigroup worth $256,982,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of C. BlackRock Inc. lifted its stake in shares of Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after purchasing an additional 189,447,104 shares during the period. FMR LLC lifted its stake in shares of Citigroup by 18.2% in the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after purchasing 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 1st 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 purchasing 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 1st 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 purchasing 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 2nd quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock valued at $334,536,000 after purchasing an additional 4,795,145 shares during the period. 75.38% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on C. Keefe, Bruyette & Woods set a $75.00 price target on Citigroup and gave the company 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 target (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $65.00 price target on shares of Citigroup in a research note on Friday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $71.65.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were 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 of the company’s stock, valued at approximately $5,239,853.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction 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 $3,889,494.18. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
Citigroup Inc. (NYSE C) opened at 75.64 on Friday. Citigroup Inc. has a one year low of $47.54 and a one year high of $76.02. The stock has a 50 day moving average price of $69.77 and a 200 day moving average price of $64.77. The company has a market cap of $206.09 billion, a PE ratio of 15.14 and a beta of 1.45. Citigroup also saw unusually large options trading activity on Thursday. Traders bought 71,029 call options on the stock. This is an increase of 192% compared to the average daily volume of 24,344 call options.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post $5.21 EPS for the current fiscal year.
Citigroup announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
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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