Triangle Securities Wealth Management grew its holdings in Citigroup Inc. (NYSE:C) by 16.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,262 shares of the financial services provider’s stock after purchasing an additional 2,810 shares during the quarter. Triangle Securities Wealth Management’s holdings in Citigroup were worth $1,355,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after buying an additional 189,447,104 shares during the period. FMR LLC lifted its stake in shares of Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after buying an additional 16,257,931 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Citigroup by 31.3% in the first quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after buying an additional 10,294,403 shares during the period. Harris Associates L P lifted its stake in shares of Citigroup by 25.9% in the first quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock valued at $2,460,384,000 after buying an additional 8,464,257 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Citigroup by 2.5% in the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after buying an additional 4,391,347 shares during the period. 75.40% of the stock is currently owned by institutional investors.
Shares of Citigroup Inc. (NYSE:C) traded up 0.8631% during mid-day trading on Wednesday, hitting $69.3837. 8,583,326 shares of the company were exchanged. The firm has a market capitalization of $189.04 billion, a P/E ratio of 13.8906 and a beta of 1.47. The company’s 50-day moving average price is $67.76 and its 200-day moving average price is $63.36. Citigroup Inc. has a 12-month low of $45.16 and a 12-month high of $69.86.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 EPS. Equities research analysts predict that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were paid a $0.32 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.28 annualized dividend and a yield of 1.86%. Citigroup’s dividend payout ratio is presently 25.55%.
Citigroup declared that its board has initiated a stock buyback plan on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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C has been the subject of several research reports. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 target price for the company. in a research note on Monday, June 12th. BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Bank of America Corporation reiterated a “buy” rating and issued a $68.00 target price (up previously from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods set a $69.00 target price on shares of Citigroup and gave the company a “buy” rating in a research note on Thursday, June 8th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $64.00 target price on shares of Citigroup in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $68.99.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were 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 $3,889,494.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction 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. 0.10% of the stock is owned by corporate insiders.
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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