Richard Bernstein Advisors LLC held its position in shares of Citigroup Inc. (NYSE:C) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 124,674 shares of the financial services provider’s stock at the end of the first quarter. Richard Bernstein Advisors LLC’s holdings in Citigroup were worth $7,458,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC increased its position in shares of Citigroup by 38.8% in the first quarter. Private Advisor Group LLC now owns 73,965 shares of the financial services provider’s stock valued at $3,513,000 after buying an additional 20,688 shares during the period. Bank Hapoalim BM increased its position in shares of Citigroup by 9.8% in the first quarter. Bank Hapoalim BM now owns 50,366 shares of the financial services provider’s stock valued at $3,013,000 after buying an additional 4,505 shares during the period. Buckingham Capital Management Inc. increased its position in shares of Citigroup by 4.8% in the first quarter. Buckingham Capital Management Inc. now owns 17,442 shares of the financial services provider’s stock valued at $1,043,000 after buying an additional 798 shares during the period. Nordea Investment Management AB increased its position in shares of Citigroup by 2.8% in the first quarter. Nordea Investment Management AB now owns 4,593,786 shares of the financial services provider’s stock valued at $274,800,000 after buying an additional 126,366 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Citigroup by 2.6% in the first quarter. Pacer Advisors Inc. now owns 64,042 shares of the financial services provider’s stock valued at $3,831,000 after buying an additional 1,611 shares during the period. Hedge funds and other institutional investors own 74.25% of the company’s stock.
Shares of Citigroup Inc. (NYSE:C) opened at 66.83 on Tuesday. The firm’s 50-day moving average price is $62.66 and its 200 day moving average price is $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 price-to-earnings ratio of 13.47 and a beta of 1.48.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the firm earned $1.24 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
Citigroup announced that its board has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several brokerages recently weighed in on C. Nomura boosted their target price on Citigroup from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. Credit Suisse Group restated an “outperform” rating and set a $72.00 target price (up from $64.00) on shares of Citigroup in a research note on Monday. Keefe, Bruyette & Woods restated a “buy” rating and set a $75.00 target price on shares of Citigroup in a research note on Friday. BidaskClub downgraded Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, HSBC Holdings plc initiated coverage on Citigroup in a research report on Tuesday, July 11th. They set a “hold” rating and a $71.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Citigroup has an average rating of “Buy” and an average 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.
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