Private Advisor Group LLC Has $3.51 Million Stake in Citigroup Inc. (NYSE:C)
Private Advisor Group LLC raised its position in Citigroup Inc. (NYSE:C) by 38.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,965 shares of the financial services provider’s stock after buying an additional 20,688 shares during the period. Private Advisor Group LLC’s holdings in Citigroup were worth $3,513,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of C. Discovery Capital Management LLC CT acquired a new position in shares of Citigroup during the fourth quarter worth $39,355,000. SRS Capital Advisors Inc. acquired a new position in shares of Citigroup during the fourth quarter worth $202,000. Wexford Capital LP acquired a new position in shares of Citigroup during the fourth quarter worth $2,689,000. Perritt Capital Management Inc. boosted 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 worth $409,000 after buying an additional 50 shares during the period. Finally, Freestone Capital Holdings LLC boosted its position in shares of Citigroup by 3.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 40,927 shares of the financial services provider’s stock worth $2,432,000 after buying an additional 1,186 shares during the period. 74.25% of the stock is owned by institutional investors and hedge funds.
Citigroup Inc. (NYSE C) opened at 66.83 on Tuesday. Citigroup Inc. has a 12-month low of $42.50 and a 12-month high of $68.91. The company’s 50 day moving average is $62.66 and its 200 day moving average is $60.18. The firm has a market cap of $184.00 billion, a price-to-earnings ratio of 13.47 and a beta of 1.48.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business posted $1.24 EPS. Citigroup’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that Citigroup Inc. will post $5.22 earnings per share for the current year.
Citigroup declared that its Board of Directors has approved a stock buyback 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 reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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C has been the subject of a number of recent research reports. Vetr raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $61.38 price objective for the company in a research note on Tuesday, March 21st. Zacks Investment Research raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, March 27th. Rafferty Capital Markets reissued a “buy” rating and set a $66.00 price objective on shares of Citigroup in a research note on Monday, April 3rd. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $53.00 to $69.00 in a research note on Wednesday, April 5th. Finally, Nomura reissued a “buy” rating and set a $69.00 price objective on shares of Citigroup in a research note on Monday, April 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $67.44.
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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