Reilly Financial Advisors LLC boosted its stake in shares of Citigroup Inc. (NYSE:C) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,320 shares of the financial services provider’s stock after buying an additional 233 shares during the period. Reilly Financial Advisors LLC’s holdings in Citigroup were worth $155,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after buying an additional 189,447,104 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Citigroup by 2.5% in the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after buying an additional 4,391,347 shares in the last quarter. FMR LLC raised its position in shares of Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after buying an additional 16,257,931 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Citigroup by 31.3% in the first 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 buying an additional 10,294,403 shares in the last quarter. Finally, Harris Associates L P raised its position in shares of Citigroup by 25.9% in the first 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 buying an additional 8,464,257 shares in the last quarter. 74.92% of the stock is owned by institutional investors and hedge funds.
Citigroup Inc. (C) traded down 0.03% on Friday, reaching $66.58. The company had a trading volume of 13,628,933 shares. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86. The stock’s 50 day moving average is $67.60 and its 200-day moving average is $62.27. The stock has a market capitalization of $181.40 billion, a P/E ratio of 13.33 and a beta of 1.48.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the business posted $1.24 earnings per share. The firm’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 EPS for the current fiscal year.
Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The company 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 $0.32 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. Citigroup’s payout ratio is presently 25.55%.
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Several equities analysts have commented on C shares. Credit Suisse Group reissued an “outperform” rating and set a $76.00 price objective (up previously from $70.00) on shares of Citigroup in a research report on Wednesday, July 26th. BidaskClub lowered Citigroup from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a research report on Monday, July 3rd. HSBC Holdings plc assumed coverage on Citigroup in a research report on Tuesday, July 11th. They set a “hold” rating and a $71.00 price objective for the company. Finally, Zacks Investment Research lowered Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Two 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 stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.08.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of the company’s 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 owns 56,394 shares in the company, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. 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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