Chatham Capital Group Inc. Acquires New Position in Citigroup Inc. (C)

Chatham Capital Group Inc. acquired a new stake in Citigroup Inc. (NYSE:C) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,590 shares of the financial services provider’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors have also modified their holdings of C. Endurance Wealth Management Inc. raised its position in shares of Citigroup by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock valued at $588,000 after buying an additional 25 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in shares of 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 valued at $299,000 after buying an additional 38 shares during the last quarter. Norway Savings Bank raised its position in shares of Citigroup by 0.3% in the first quarter. Norway Savings Bank now owns 13,675 shares of the financial services provider’s stock valued at $818,000 after buying an additional 45 shares during the last quarter. Perritt Capital Management Inc. raised its position in shares of Citigroup by 0.7% in the fourth quarter. Perritt Capital Management Inc. now owns 6,887 shares of the financial services provider’s stock valued at $409,000 after buying an additional 50 shares during the last quarter. Finally, Cypress Wealth Advisors LLC raised its position in shares of Citigroup by 1.1% in the fourth quarter. Cypress Wealth Advisors LLC now owns 4,879 shares of the financial services provider’s stock valued at $290,000 after buying an additional 53 shares during the last quarter. Institutional investors own 74.25% of the company’s stock.

Shares of Citigroup Inc. (NYSE C) opened at 66.83 on Tuesday. The firm has a 50-day moving average of $62.66 and a 200 day moving average of $60.18. Citigroup Inc. has a 1-year low of $42.50 and a 1-year high of $68.91. The stock has a market capitalization of $184.00 billion, a PE ratio of 13.47 and a beta of 1.48.

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

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

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C has been the topic of a number of research reports. UBS AG upgraded Citigroup from a “sell” rating to a “neutral” rating and upped their price target for the stock from $58.00 to $64.00 in a research note on Friday, June 9th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price target on the stock. in a research note on Monday, July 3rd. Credit Suisse Group restated an “outperform” rating and set a $72.00 price target (up from $64.00) on shares of Citigroup in a research note on Monday. Nomura upped their price target on Citigroup from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Group LLC restated a “hold” rating and set a $68.00 price target on shares of Citigroup in a research note on Friday, May 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.44.

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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