Lincluden Management Ltd. reduced its stake in shares of Citigroup Inc. (NYSE:C) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,504 shares of the financial services provider’s stock after selling 30,755 shares during the quarter. Lincluden Management Ltd.’s holdings in Citigroup were worth $7,149,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Citigroup by 2,718.7% during the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after purchasing an additional 189,447,104 shares in the last quarter. Vanguard Group Inc. grew its stake in Citigroup by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after purchasing an additional 4,391,347 shares in the last quarter. FMR LLC grew its stake in Citigroup by 18.2% during the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after purchasing an additional 16,257,931 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Citigroup by 31.3% during the 1st 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 purchasing an additional 10,294,403 shares in the last quarter. Finally, Harris Associates L P grew its stake in Citigroup by 25.9% during the 1st 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 purchasing an additional 8,464,257 shares in the last quarter. Institutional investors and hedge funds own 75.38% of the company’s stock.
In related news, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were 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 approximately $5,239,853.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 56,394 shares in the company, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the company. UBS AG upgraded Citigroup from a “sell” rating to a “neutral” rating and raised their price objective for the company from $58.00 to $64.00 in a research note on Friday, June 9th. Keefe, Bruyette & Woods set a $75.00 price objective on Citigroup and gave the company a “buy” rating in a research note on Sunday, August 13th. BidaskClub upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company assumed coverage on Citigroup in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 target price for the company. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $64.00 target price on shares of Citigroup in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $70.08.
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Shares of Citigroup Inc. (NYSE C) opened at 71.40 on Monday. The company has a market cap of $194.53 billion, a P/E ratio of 14.29 and a beta of 1.47. The stock has a 50 day moving average price of $68.04 and a 200-day moving average price of $63.70. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $72.20.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts predict that Citigroup Inc. will post $5.21 earnings per share for the current fiscal year.
Citigroup announced that its board has authorized a share buyback program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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