RE Advisers Corp Boosts Position in Citigroup Inc. (NYSE:C)
RE Advisers Corp boosted its position in shares of Citigroup Inc. (NYSE:C) by 288.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 815,000 shares of the financial services provider’s stock after buying an additional 605,000 shares during the period. RE Advisers Corp’s holdings in Citigroup were worth $48,753,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in shares of Citigroup during the first quarter valued at $877,000. Advisor Partners LLC increased its stake 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 stake 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 stake 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 stake 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. 74.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (C) opened at 68.91 on Monday. The firm has a market capitalization of $187.75 billion, a PE ratio of 13.80 and a beta of 1.48. Citigroup Inc. has a 12 month low of $44.51 and a 12 month high of $69.62. The stock’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 results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The firm 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post $5.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.32 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.86%. Citigroup’s dividend payout ratio (DPR) is currently 25.55%.
Citigroup declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Several equities research analysts have recently weighed in on C shares. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $66.78 target price for the company 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 reaffirmed a “buy” rating and issued a $69.00 target price on shares of Citigroup in a research report on Monday, April 17th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $78.00 target price (up previously from $77.00) on shares of Citigroup in a research report on Thursday, May 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued 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 given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Citigroup has an average 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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