Citigroup Inc. (NYSE:C) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC boosted its stake in Citigroup Inc. (NYSE:C) by 9.4% during the first quarter, Holdings Channel reports. The fund owned 7,389,922 shares of the financial services provider’s stock after buying an additional 632,277 shares during the period. Citigroup makes up about 0.6% of Teachers Advisors LLC’s investment portfolio, making the stock its 18th largest position. Teachers Advisors LLC’s holdings in Citigroup were worth $442,065,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after buying an additional 16,257,931 shares during the period. Bank of New York Mellon Corp increased its position in Citigroup by 31.3% in the first quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after buying an additional 10,294,403 shares during the period. Harris Associates L P increased its position in Citigroup by 25.9% in the first quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock valued at $2,460,384,000 after buying an additional 8,464,257 shares during the period. Boston Partners increased its position in Citigroup by 16.1% in the first quarter. Boston Partners now owns 22,670,807 shares of the financial services provider’s stock valued at $1,356,168,000 after buying an additional 3,139,679 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Citigroup by 82.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,097,386 shares of the financial services provider’s stock valued at $304,926,000 after buying an additional 2,306,300 shares during the period. 74.89% of the stock is owned by institutional investors.
Shares of Citigroup Inc. (NYSE:C) opened at 69.11 on Monday. Citigroup Inc. has a 52 week low of $44.51 and a 52 week high of $69.62. The company has a market capitalization of $188.29 billion, a PE ratio of 13.84 and a beta of 1.48. The firm’s 50-day moving average price is $66.26 and its 200 day moving average price is $61.34.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for 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 company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Equities analysts predict that Citigroup Inc. will post $5.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be paid a dividend of $0.32 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.86%. Citigroup’s dividend payout ratio is presently 25.55%.
Citigroup declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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C has been the topic of several analyst reports. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $66.78 target price on the stock in a research report on Monday, April 10th. Zacks Investment Research downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Nomura reiterated a “buy” rating and set a $69.00 target price on shares of Citigroup in a research report on Monday, April 17th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $78.00 target price (up from $77.00) on shares of Citigroup in a research report on Thursday, May 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $68.00 target price on shares of Citigroup in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.04.
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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