Capital Asset Advisory Services LLC Buys Shares of 22,728 Citigroup Inc. (C)

Capital Asset Advisory Services LLC bought a new stake in Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 22,728 shares of the financial services provider’s stock, valued at approximately $1,522,000. Citigroup accounts for about 1.0% of Capital Asset Advisory Services LLC’s investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds have also recently modified their holdings of the company. Patten Group Inc. raised its holdings in shares of Citigroup by 6.6% in the 1st quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 110 shares during the period. Arrow Financial Corp raised its holdings in shares of Citigroup by 4.7% in the 1st quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 85 shares during the period. Advantage Investment Management LLC raised its holdings in shares of Citigroup by 109.3% in the 1st quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,026 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of Citigroup in the 1st quarter valued at about $123,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Citigroup by 15.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,121 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 277 shares during the period. 75.40% of the stock is currently owned by institutional investors.

In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, 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. Corporate insiders own 0.10% of the company’s stock.

A number of brokerages have recently issued reports on C. Credit Suisse Group reaffirmed a “buy” rating and issued a $73.00 target price on shares of Citigroup in a report on Wednesday. Societe Generale raised shares of Citigroup from a “sell” rating to a “hold” rating and increased their price target for the company from $63.00 to $70.00 in a report on Monday. ValuEngine raised shares of Citigroup from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods set a $75.00 price target on shares of Citigroup and gave the company a “buy” rating in a report on Sunday, August 13th. Finally, HSBC Holdings plc set a $74.00 price target on shares of Citigroup and gave the company a “hold” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Citigroup presently has an average rating of “Buy” and an average price target of $68.99.

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Shares of Citigroup Inc. (NYSE:C) traded down 0.25% during mid-day trading on Friday, reaching $69.07. 6,681,122 shares of the company’s stock were exchanged. The firm has a market cap of $188.19 billion, a P/E ratio of 13.83 and a beta of 1.47. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $69.86. The company has a 50 day moving average price of $67.83 and a 200 day moving average price of $63.44.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. Citigroup’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 EPS. Analysts forecast that Citigroup Inc. will post $5.21 earnings per share for the current fiscal year.

Citigroup declared that its board has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Thursday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is 25.55%.

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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