Point72 Asia Hong Kong Ltd Acquires New Position in Citigroup Inc. (C)

Point72 Asia Hong Kong Ltd acquired a new position in shares of Citigroup Inc. (NYSE:C) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,301 shares of the financial services provider’s stock, valued at approximately $138,000.

Other institutional investors have also recently modified their holdings of the company. Arrow Financial Corp grew its stake in Citigroup by 4.7% during 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 grew its stake in Citigroup by 109.3% during 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. Signature Estate & Investment Advisors LLC bought a new stake in Citigroup during the first quarter worth about $123,000. Parkside Financial Bank & Trust grew its stake in Citigroup by 15.0% during the first quarter. Parkside Financial Bank & Trust now owns 2,121 shares of the financial services provider’s stock worth $127,000 after buying an additional 277 shares during the last quarter. Finally, FNY Managed Accounts LLC bought a new stake in Citigroup during the first quarter worth about $132,000. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on C shares. Zacks Investment Research cut shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $73.42 price objective on the stock in a research note on Monday, June 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $68.00 price objective on shares of Citigroup in a research note on Friday, July 7th. Credit Suisse Group reaffirmed an “outperform” rating and set a $72.00 price objective (up from $64.00) on shares of Citigroup in a research note on Monday, July 17th. Finally, ValuEngine raised shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and a consensus price target of $69.08.

In other news, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $68.97, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now 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. Corporate insiders own 0.10% of the company’s stock.

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Shares of Citigroup Inc. (NYSE:C) traded up 2.154% during midday trading on Monday, hitting $67.595. 8,613,100 shares of the stock traded hands. Citigroup Inc. has a 52 week low of $45.16 and a 52 week high of $69.86. The stock has a market capitalization of $184.17 billion, a P/E ratio of 13.533 and a beta of 1.47. The firm has a 50-day moving average price of $67.68 and a 200-day moving average price of $63.24.

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 Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.

Citigroup announced that its board has initiated a stock buyback program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were paid a $0.32 dividend. This is a positive change 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 dividend yield of 1.93%. Citigroup’s dividend payout ratio is presently 25.55%.

About Citigroup

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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