Jones Financial Companies Lllp increased its position in Citigroup Inc. (NYSE:C) by 1.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,451 shares of the financial services provider’s stock after buying an additional 1,460 shares during the period. Jones Financial Companies Lllp’s holdings in Citigroup were worth $8,700,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of C. Advisory Services Network LLC bought a new stake in Citigroup during the first quarter valued at $877,000. Advisor Partners LLC increased its position in shares of Citigroup by 10.6% in the first quarter. Advisor Partners LLC now owns 48,936 shares of the financial services provider’s stock valued at $2,927,000 after buying an additional 4,685 shares during the last quarter. Capital Advisors Inc. OK increased its position in shares of Citigroup by 2.1% in the first quarter. Capital Advisors Inc. OK now owns 393,431 shares of the financial services provider’s stock valued at $23,535,000 after buying an additional 8,070 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Citigroup by 7.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 9,680,474 shares of the financial services provider’s stock valued at $579,086,000 after buying an additional 672,933 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. increased its position in shares of Citigroup by 6.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,386 shares of the financial services provider’s stock valued at $262,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.
Shares of Citigroup Inc. (NYSE C) opened at 66.80 on Friday. The firm has a 50-day moving average of $67.22 and a 200 day moving average of $61.90. The company has a market capitalization of $182.00 billion, a P/E ratio of 13.37 and a beta of 1.48. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating 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 company had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Citigroup Inc. will post $5.22 earnings per share for the current year.
Citigroup announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is currently 25.55%.
Several brokerages have recently commented on C. UBS AG raised Citigroup from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $58.00 to $64.00 in a report on Friday, June 9th. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective on the stock in a report on Thursday, August 3rd. HSBC Holdings plc set a $74.00 price objective on Citigroup and gave the stock a “hold” rating in a report on Friday. Wells Fargo & Company started coverage on shares of Citigroup in a research report on Wednesday. They issued an “outperform” rating and a $90.00 price objective for the company. Finally, BMO Capital Markets restated a “buy” rating and issued a $64.00 price objective on shares of Citigroup in a research report on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $69.08.
In related 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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