Schmidt P J Investment Management Inc. Increases Position in Citigroup Inc. (NYSE:C)

Schmidt P J Investment Management Inc. boosted its stake in shares of Citigroup Inc. (NYSE:C) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,066 shares of the financial services provider’s stock after buying an additional 3,212 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Citigroup were worth $2,412,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of C. Endurance Wealth Management Inc. increased its position in Citigroup by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock worth $588,000 after buying an additional 25 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in Citigroup by 0.8% in the first quarter. Clear Harbor Asset Management LLC now owns 4,991 shares of the financial services provider’s stock worth $299,000 after buying an additional 38 shares during the last quarter. Norway Savings Bank increased its position in Citigroup by 0.3% in the first quarter. Norway Savings Bank now owns 13,675 shares of the financial services provider’s stock worth $818,000 after buying an additional 45 shares during the last quarter. Regal Investment Advisors LLC increased its position in Citigroup by 2.0% in the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock worth $227,000 after buying an additional 74 shares during the last quarter. Finally, Arrow Financial Corp increased 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. Hedge funds and other institutional investors own 74.92% of the company’s stock.

Citigroup Inc. (C) traded down 0.03% during trading on Friday, reaching $66.58. The company’s stock had a trading volume of 13,628,933 shares. The firm has a market capitalization of $181.40 billion, a P/E ratio of 13.33 and a beta of 1.48. The firm has a 50-day moving average price of $67.60 and a 200-day moving average price of $62.27. Citigroup Inc. has a 52 week low of $45.16 and a 52 week high of $69.86.

Citigroup (NYSE:C) last released its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The firm had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post $5.22 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $15.60 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared 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. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.92%. This is a boost from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is currently 25.55%.

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A number of brokerages recently issued reports on C. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $66.90 target price for the company. in a research report on Tuesday, April 25th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $78.00 target price (up from $77.00) on shares of Citigroup in a research report on Thursday, May 4th. Jefferies Group LLC reissued a “hold” rating and issued a $68.00 target price on shares of Citigroup in a research report on Friday, May 5th. BMO Capital Markets reissued a “buy” rating and issued a $64.00 target price on shares of Citigroup in a research report on Thursday, June 1st. Finally, Keefe, Bruyette & Woods set a $69.00 target price on Citigroup and gave the company a “buy” rating in a research report on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $69.08.

In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate 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.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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