Columbia Asset Management lowered its stake in shares of Citigroup Inc. (NYSE:C) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,360 shares of the financial services provider’s stock after selling 2,010 shares during the period. Columbia Asset Management’s holdings in Citigroup were worth $2,354,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in C. Arrow Financial Corp increased its stake in shares of Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after buying an additional 85 shares during the last quarter. Advantage Investment Management LLC increased its stake in shares of Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the last quarter. Pinnacle Bank bought a new stake in shares of Citigroup during the first quarter valued at approximately $123,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Citigroup during the first quarter valued at approximately $123,000. Finally, Reilly Financial Advisors LLC increased its stake in shares of Citigroup by 60.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,087 shares of the financial services provider’s stock valued at $125,000 after buying an additional 786 shares during the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.
Citigroup Inc. (NYSE C) traded down 0.03% on Friday, reaching $66.58. The company had a trading volume of 13,628,933 shares. The stock has a market cap of $181.40 billion, a price-to-earnings ratio of 13.33 and a beta of 1.48. Citigroup Inc. has a one year low of $45.16 and a one year high of $69.86. The company has a 50-day moving average of $67.60 and a 200 day moving average of $62.27.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the firm posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Citigroup Inc. will post $5.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 7th will be issued a $0.32 dividend. The ex-dividend date is Thursday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. Citigroup’s dividend payout ratio is presently 25.55%.
Citigroup announced that its board has approved a share buyback program on Wednesday, June 28th that allows the company to buyback $15.60 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have issued reports on C shares. Wells Fargo & Company started coverage on Citigroup in a report on Wednesday, August 9th. They set an “outperform” rating and a $90.00 price objective on the stock. Zacks Investment Research upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. HSBC Holdings plc set a $74.00 price objective on Citigroup and gave the stock a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC restated a “hold” rating and set a $68.00 price objective on shares of Citigroup in a report on Friday, July 7th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $78.00 price objective (up from $77.00) on shares of Citigroup in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $69.08.
In related news, insider Jeffrey R. Walsh sold 5,000 shares of the 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 sale, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the 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 in the company, valued at $5,239,853.50. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
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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