Schroder Investment Management Group lowered its stake in Citigroup Inc. (NYSE:C) by 10.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,905,446 shares of the financial services provider’s stock after selling 1,034,013 shares during the period. Citigroup makes up approximately 1.0% of Schroder Investment Management Group’s portfolio, making the stock its 14th largest position. Schroder Investment Management Group owned about 0.32% of Citigroup worth $538,868,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. 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 in 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 in the last quarter. Pinnacle Bank bought a new position in shares of Citigroup during the first quarter worth about $123,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Citigroup during the first quarter worth about $123,000. Finally, Reilly Financial Advisors LLC raised its position in shares of Citigroup by 60.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,087 shares of the financial services provider’s stock worth $125,000 after buying an additional 786 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.
Citigroup Inc. (C) traded down 0.03% during trading on Friday, reaching $66.58. The company had a trading volume of 13,628,933 shares. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $69.86. The company has a 50 day moving average price of $67.61 and a 200 day moving average price of $62.20. The company has a market capitalization of $181.40 billion, a PE 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations 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 forecast that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
The business 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. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 dividend on an annualized basis 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%.
Citigroup declared that its board 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 repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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A number of equities analysts recently issued reports on C shares. Credit Suisse Group reiterated an “outperform” rating and issued a $76.00 target price (up previously from $70.00) on shares of Citigroup in a research 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 assumed coverage on shares of Citigroup in a report on Tuesday, July 11th. They issued a “hold” rating and a $71.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $69.08.
In related 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 directly owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’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 transaction, 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. Corporate insiders own 0.10% of the company’s stock.
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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