BB&T Securities LLC raised its stake in Citigroup Inc. (NYSE:C) by 38.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,578 shares of the financial services provider’s stock after buying an additional 76,742 shares during the period. BB&T Securities LLC’s holdings in Citigroup were worth $16,605,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. National Mutual Insurance Federation of Agricultural Cooperatives raised its stake in Citigroup by 21.6% in the first quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 45,000 shares of the financial services provider’s stock valued at $2,692,000 after buying an additional 8,000 shares during the last quarter. Suffolk Capital Management LLC raised its position in Citigroup by 26.8% in the first quarter. Suffolk Capital Management LLC now owns 205,290 shares of the financial services provider’s stock valued at $12,280,000 after buying an additional 43,356 shares during the last quarter. Boston Private Wealth LLC raised its position in shares of Citigroup by 80.0% in the first quarter. Boston Private Wealth LLC now owns 226,918 shares of the financial services provider’s stock worth $13,574,000 after buying an additional 100,859 shares in the last quarter. Oarsman Capital Inc. raised its position in shares of Citigroup by 2.0% in the first quarter. Oarsman Capital Inc. now owns 78,321 shares of the financial services provider’s stock worth $4,685,000 after buying an additional 1,516 shares in the last quarter. Finally, MAI Capital Management raised its position in shares of Citigroup by 1.1% in the first quarter. MAI Capital Management now owns 53,633 shares of the financial services provider’s stock worth $3,208,000 after buying an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 74.92% of the company’s stock.
Citigroup Inc. (NYSE:C) opened at 66.58 on Friday. Citigroup Inc. has a 12-month low of $45.16 and a 12-month high of $69.86. The company has a 50-day moving average price of $67.60 and a 200-day moving average price of $62.27. The stock has a market capitalization of $181.40 billion, a PE ratio of 13.33 and a beta of 1.48.
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 consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the company earned $1.24 earnings per share. Citigroup’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
Citigroup declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be issued a $0.32 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is presently 25.55%.
C has been the topic of a number of recent analyst reports. Credit Suisse Group reissued an “outperform” rating and issued a $76.00 price target (up from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. BidaskClub downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a report on Monday, July 3rd. HSBC Holdings plc started coverage on shares of Citigroup in a research note on Tuesday, July 11th. They issued a “hold” rating and a $71.00 target price on the stock. Finally, Zacks Investment Research cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. 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 assigned a strong buy rating to the company’s stock. Citigroup has a consensus rating of “Buy” and a consensus price target of $69.08.
In other news, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction that occurred on Thursday, August 10th. The stock was 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 directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction that occurred on Friday, August 4th. The stock was 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 directly owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.
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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