KBC Group NV reduced its position in Citigroup Inc. (NYSE:C) by 39.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 809,279 shares of the financial services provider’s stock after selling 528,906 shares during the period. KBC Group NV’s holdings in Citigroup were worth $48,411,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of C. Biegel & Waller LLC purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $9,977,000. Cigna Investments Inc. New purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $6,331,000. L & S Advisors Inc purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $7,194,000. Princeton Portfolio Strategies Group LLC raised its position in shares of Citigroup by 5.5% in the fourth quarter. Princeton Portfolio Strategies Group LLC now owns 8,657 shares of the financial services provider’s stock valued at $514,000 after buying an additional 450 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Citigroup by 18.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 77,490 shares of the financial services provider’s stock valued at $4,572,000 after buying an additional 12,271 shares in the last quarter. Institutional investors own 74.25% of the company’s stock.
Citigroup Inc. (NYSE:C) opened at 66.36 on Friday. The firm has a market cap of $180.80 billion, a price-to-earnings ratio of 13.29 and a beta of 1.48. Citigroup Inc. has a 1-year low of $42.50 and a 1-year high of $68.91. The firm’s 50-day moving average price is $65.03 and its 200-day moving average price is $60.90.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share 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 return on equity of 7.32% and a net margin of 18.11%. Citigroup’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 earnings per share. On average, equities research analysts anticipate that Citigroup Inc. will post $5.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be given a dividend of $0.32 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 annualized dividend and a yield of 1.93%. Citigroup’s dividend payout ratio (DPR) is presently 12.77%.
Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to repurchase $15.60 billion in shares. This repurchase authorization allows the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
C has been the topic of several research reports. Zacks Investment Research upgraded Citigroup from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, March 27th. Rafferty Capital Markets restated a “buy” rating and set a $66.00 price target on shares of Citigroup in a research note on Monday, April 3rd. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $66.90 price target on the stock. in a research note on Tuesday, April 25th. Nomura restated a “buy” rating and set a $69.00 price target on shares of Citigroup in a research note on Monday, April 17th. Finally, BMO Capital Markets restated a “buy” rating and set a $64.00 price target on shares of Citigroup in a research note on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Citigroup presently has an average rating of “Buy” and a consensus price target of $67.56.
About Citigroup
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.
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C).
Receive News & Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
