ANTIPODES PARTNERS Ltd bought a new position in Citigroup Inc. (NYSE:C) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 33,559 shares of the financial services provider’s stock, valued at approximately $2,244,000. Citigroup makes up about 0.3% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 20th biggest holding.
Several other hedge funds also recently added to or reduced their stakes in C. Patten Group Inc. raised its stake in Citigroup by 6.6% during the first 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 in the last quarter. Arrow Financial Corp raised its stake in Citigroup by 4.7% during the first 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 in the last quarter. Advantage Investment Management LLC raised its stake in Citigroup by 109.3% during the first 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Citigroup during the first quarter valued at $123,000. Finally, Parkside Financial Bank & Trust raised its stake in Citigroup by 15.0% during the first 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 in the last quarter. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on C shares. Credit Suisse Group reaffirmed an “outperform” rating and set a $76.00 price target (up previously from $70.00) on shares of Citigroup in a research note on Wednesday, July 26th. BidaskClub downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a research note on Monday, July 3rd. HSBC Holdings plc started coverage on shares of Citigroup in a research note on Tuesday, July 11th. They set a “hold” rating and a $71.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $69.79.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the company’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 sale, the insider now owns 56,394 shares in the company, valued at $3,889,494.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.
Shares of Citigroup Inc. (NYSE C) traded down 0.29% on Friday, reaching $69.04. 18,360,910 shares of the company’s stock traded hands. Citigroup Inc. has a 52 week low of $45.16 and a 52 week high of $69.86. The firm has a market capitalization of $188.10 billion, a P/E ratio of 13.82 and a beta of 1.47. The firm’s 50 day moving average is $67.87 and its 200 day moving average is $63.51.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Citigroup Inc. will post $5.21 earnings per share for the current fiscal year.
Citigroup announced that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is 25.55%.
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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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