Legal & General Group Plc reduced its stake in shares of Citigroup Inc. (NYSE:C) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,264,865 shares of the financial services provider’s stock after selling 11,618 shares during the quarter. Citigroup comprises about 0.8% of Legal & General Group Plc’s investment portfolio, making the stock its 19th biggest position. Legal & General Group Plc owned 0.52% of Citigroup worth $954,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Dubuque Bank & Trust Co. grew its stake in shares of Citigroup by 60.8% during the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares during the last quarter. Patten Group Inc. grew its stake in shares of Citigroup by 6.6% during the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Citigroup during the second quarter valued at approximately $123,000. Enterprise Financial Services Corp grew its stake in shares of Citigroup by 6.5% during the second quarter. Enterprise Financial Services Corp now owns 1,963 shares of the financial services provider’s stock valued at $131,000 after buying an additional 120 shares during the last quarter. Finally, Advantage Investment Management LLC grew its stake in shares of Citigroup by 109.3% during the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the last quarter. 75.37% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on C shares. BidaskClub raised Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $68.00 target price (up previously from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 target price on the stock. in a research note on Monday, June 12th. Buckingham Research reaffirmed a “buy” rating and set a $81.00 target price (up previously from $70.00) on shares of Citigroup in a research note on Monday, July 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 target price on shares of Citigroup in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Citigroup currently has an average rating of “Buy” and a consensus price target of $71.65.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction on Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction 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 sale, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.
Shares of Citigroup Inc. (NYSE:C) opened at 75.64 on Monday. The stock’s 50 day moving average price is $69.77 and its 200 day moving average price is $64.77. The stock has a market cap of $206.09 billion, a price-to-earnings ratio of 15.14 and a beta of 1.45. Citigroup Inc. has a one year low of $47.54 and a one year high of $76.02.
Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. Analysts forecast that Citigroup Inc. will post $5.21 earnings per share for the current year.
Citigroup announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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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