Asset Dedication LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,296 shares of the financial services provider’s stock after selling 268 shares during the period. Asset Dedication LLC’s holdings in Citigroup were worth $748,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Advisory Services Network LLC bought a new stake in shares of Citigroup during the first quarter worth about $877,000. Advisor Partners LLC increased its stake in shares of Citigroup by 10.6% in the first quarter. Advisor Partners LLC now owns 48,936 shares of the financial services provider’s stock worth $2,927,000 after buying an additional 4,685 shares in the last quarter. Capital Advisors Inc. OK increased its stake in shares of Citigroup by 2.1% in the first quarter. Capital Advisors Inc. OK now owns 393,431 shares of the financial services provider’s stock worth $23,535,000 after buying an additional 8,070 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Citigroup by 0.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 552,604 shares of the financial services provider’s stock worth $32,841,000 after buying an additional 2,217 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Citigroup by 7.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 9,680,474 shares of the financial services provider’s stock worth $579,086,000 after buying an additional 672,933 shares in the last quarter. Institutional investors own 74.25% of the company’s stock.
Shares of Citigroup Inc. (NYSE:C) opened at 66.36 on Friday. The company’s 50-day moving average is $65.03 and its 200-day moving average is $60.90. The stock has a market capitalization of $180.80 billion, a P/E ratio of 13.29 and a beta of 1.48. Citigroup Inc. has a one year low of $42.50 and a one year high of $68.91.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The company had revenue of $17.90 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 EPS. On average, equities research analysts anticipate that Citigroup Inc. will post $5.22 earnings per share for the current year.
The company also recently disclosed 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. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s payout ratio is currently 12.77%.
Citigroup declared that its Board of Directors has initiated 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 repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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A number of brokerages have issued reports on C. Nomura lifted their price target on shares of Citigroup from $74.00 to $78.00 and gave the company a “buy” rating in a report on Monday. Credit Suisse Group reiterated an “outperform” rating and issued a $72.00 price target (up from $64.00) on shares of Citigroup in a report on Monday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $75.00 price target on shares of Citigroup in a report on Friday, July 14th. BidaskClub downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, HSBC Holdings plc began coverage on shares of Citigroup in a report on Tuesday, July 11th. They issued a “hold” rating and a $71.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $67.56.
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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