Nisa Investment Advisors LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 949,182 shares of the financial services provider’s stock after selling 10,624 shares during the period. Citigroup makes up about 0.7% of Nisa Investment Advisors LLC’s holdings, making the stock its 26th largest position. Nisa Investment Advisors LLC’s holdings in Citigroup were worth $62,333,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Patten Group Inc. raised its position in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock worth $105,000 after buying an additional 110 shares during the last quarter. Arrow Financial Corp raised 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 last quarter. Advantage Investment Management LLC raised its position 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 worth $118,000 after buying an additional 1,026 shares during the last quarter. Pinnacle Bank purchased a new position in shares of Citigroup during the first quarter worth approximately $123,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Citigroup during the first quarter worth approximately $123,000. 74.89% of the stock is owned by institutional investors.
Shares of Citigroup Inc. (NYSE:C) opened at 68.43 on Thursday. The stock has a market capitalization of $186.44 billion, a price-to-earnings ratio of 13.70 and a beta of 1.48. Citigroup Inc. has a 52-week low of $44.51 and a 52-week high of $69.86. The stock has a 50 day moving average price of $67.03 and a 200-day moving average price of $61.79.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the company posted $1.24 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Citigroup Inc. will post $5.23 EPS for the current fiscal year.
Citigroup declared that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is 25.55%.
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A number of equities analysts recently commented on C shares. Keefe, Bruyette & Woods set a $69.00 price target on Citigroup and gave the company a “buy” rating in a research note on Thursday, June 8th. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 price target for the company. in a research note on Monday, June 12th. Nomura restated a “buy” rating and set a $69.00 price objective on shares of Citigroup in a report on Monday, April 17th. BMO Capital Markets reiterated a “buy” rating and issued a $64.00 price target on shares of Citigroup in a report on Thursday, June 1st. Finally, Bank of America Corporation restated a “buy” rating and set a $68.00 target price (up from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Citigroup presently has an average rating of “Buy” and a consensus target price of $68.04.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.
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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