Strategic Global Advisors LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 42.2% during the first quarter, Holdings Channel reports. The fund owned 10,869 shares of the financial services provider’s stock after selling 7,926 shares during the period. Strategic Global Advisors LLC’s holdings in Citigroup were worth $650,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arrow Financial Corp boosted its position in 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 last quarter. Advantage Investment Management LLC boosted its position in Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,026 shares during the last quarter. Pinnacle Bank bought a new position in Citigroup during the first quarter worth $123,000. Signature Estate & Investment Advisors LLC bought a new position in Citigroup during the first quarter worth $123,000. Finally, Reilly Financial Advisors LLC boosted its position in Citigroup by 60.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,087 shares of the financial services provider’s stock worth $125,000 after buying an additional 786 shares during the last quarter. 74.89% of the stock is currently owned by hedge funds and other institutional investors.
Citigroup Inc. (NYSE C) traded down 1.31% during trading on Wednesday, reaching $67.98. The company had a trading volume of 3,099,252 shares. Citigroup Inc. has a 52 week low of $44.51 and a 52 week high of $69.62. The firm has a market capitalization of $185.22 billion, a price-to-earnings ratio of 13.61 and a beta of 1.48. The company’s 50-day moving average is $66.26 and its 200 day moving average is $61.34.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) 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 analysts’ expectations of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 earnings per share. Equities analysts anticipate that Citigroup Inc. will post $5.23 EPS for the current year.
Citigroup declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.32 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.28 annualized dividend and a yield of 1.86%. Citigroup’s dividend payout ratio (DPR) is 25.55%.
Several analysts recently issued reports on the company. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. Jefferies Group LLC reissued a “hold” rating and set a $68.00 target price on shares of Citigroup in a research note on Friday, July 7th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $78.00 target price (up previously from $77.00) on shares of Citigroup in a research note on Thursday, May 4th. BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $67.43 to $65.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. Finally, BidaskClub raised Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. 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 given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $68.04.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s 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 directly owns 56,394 shares in the company, valued at $3,889,494.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.10% of the stock is owned by company 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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