Balasa Dinverno & Foltz LLC boosted its position in shares of Citigroup Inc. (NYSE:C) by 20.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,342 shares of the financial services provider’s stock after buying an additional 2,736 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in Citigroup were worth $1,093,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Endurance Wealth Management Inc. increased its position in shares of Citigroup by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock worth $588,000 after buying an additional 25 shares during the period. Clear Harbor Asset Management LLC increased its position in shares of Citigroup by 0.8% in the first quarter. Clear Harbor Asset Management LLC now owns 4,991 shares of the financial services provider’s stock worth $299,000 after buying an additional 38 shares during the period. Regal Investment Advisors LLC increased its position in shares of Citigroup by 2.0% in the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock worth $227,000 after buying an additional 74 shares during the period. Arrow Financial Corp increased its position 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 worth $113,000 after buying an additional 85 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Citigroup by 2.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,425 shares of the financial services provider’s stock worth $265,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 74.92% of the company’s stock.
Citigroup Inc. (NYSE C) opened at 67.85 on Friday. The stock has a market capitalization of $184.86 billion, a PE ratio of 13.58 and a beta of 1.48. The firm has a 50 day moving average of $67.51 and a 200-day moving average of $62.64. Citigroup Inc. has a 52 week low of $45.16 and a 52 week high of $69.86.
Citigroup (NYSE:C) last released its earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 earnings per share. On average, equities analysts predict that Citigroup Inc. will post $5.22 EPS for the current year.
Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company 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 1.89%. The ex-dividend date of this dividend was Thursday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s payout ratio is 25.55%.
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C has been the topic of a number of research analyst reports. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $66.90 price objective on the stock in a research report on Monday, May 1st. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $78.00 price objective (up previously from $77.00) on shares of Citigroup in a research report on Thursday, May 4th. Jefferies Group LLC restated a “hold” rating and set a $68.00 price objective on shares of Citigroup in a research report on Friday, May 5th. BMO Capital Markets restated a “buy” rating and set a $64.00 price objective on shares of Citigroup in a research report on Thursday, June 1st. Finally, Keefe, Bruyette & Woods set a $69.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research report on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $69.08.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction 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 owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction 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 transaction, the chief executive officer now directly 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. 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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