Citigroup Inc. (C) Stake Reduced by Vontobel Swiss Wealth Advisors AG
Vontobel Swiss Wealth Advisors AG reduced its position in Citigroup Inc. (NYSE:C) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,286 shares of the financial services provider’s stock after selling 3,425 shares during the period. Vontobel Swiss Wealth Advisors AG’s holdings in Citigroup were worth $1,812,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. FMR LLC increased its stake in Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after buying an additional 16,257,931 shares during the period. Bank of New York Mellon Corp increased its stake 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 worth $2,582,269,000 after buying an additional 10,294,403 shares during the period. Harris Associates L P increased its stake 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 worth $2,460,384,000 after buying an additional 8,464,257 shares during the period. Boston Partners increased its stake in Citigroup by 16.1% in the first quarter. Boston Partners now owns 22,670,807 shares of the financial services provider’s stock worth $1,356,168,000 after buying an additional 3,139,679 shares during the period. Finally, Artisan Partners Limited Partnership increased its stake in Citigroup by 2.0% in the first quarter. Artisan Partners Limited Partnership now owns 12,273,198 shares of the financial services provider’s stock worth $734,183,000 after buying an additional 235,264 shares during the period. 74.89% of the stock is owned by institutional investors and hedge funds.
Citigroup Inc. (NYSE:C) opened at 68.11 on Wednesday. The firm has a market capitalization of $185.57 billion, a P/E ratio of 13.64 and a beta of 1.48. The stock has a 50 day moving average of $66.26 and a 200-day moving average of $61.34. Citigroup Inc. has a 1-year low of $44.51 and a 1-year high of $69.62.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 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 analysts’ expectations of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. On average, equities research analysts anticipate that Citigroup Inc. will post $5.23 earnings per share for the current year.
Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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 $0.32 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a yield of 1.86%. The ex-dividend date is Thursday, August 3rd. Citigroup’s payout ratio is presently 25.55%.
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A number of research firms have weighed in on C. J P Morgan Chase & Co set a $73.50 target price on Citigroup and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Vetr downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 target price for the company. in a research report on Monday, July 31st. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a research report on Monday, July 3rd. Credit Suisse Group restated an “outperform” rating and issued a $76.00 target price (up from $70.00) on shares of Citigroup in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $68.00 target price on shares of Citigroup in a research report on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.04.
In other Citigroup 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 value of $344,850.00. Following the sale, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by insiders.
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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