Weiss Multi Strategy Advisers LLC Invests $445,000 in Citigroup Inc. (NYSE:C)
Weiss Multi Strategy Advisers LLC acquired a new stake in Citigroup Inc. (NYSE:C) during the first quarter, Holdings Channel reports. The firm acquired 7,442 shares of the financial services provider’s stock, valued at approximately $445,000.
A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after buying an additional 189,447,104 shares during the period. Vanguard Group Inc. raised its stake in Citigroup by 2.5% in the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after buying an additional 4,391,347 shares during the period. FMR LLC raised 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 valued at $6,325,535,000 after buying an additional 16,257,931 shares during the period. Bank of New York Mellon Corp raised 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 valued at $2,582,269,000 after buying an additional 10,294,403 shares during the period. Finally, Harris Associates L P raised 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 valued at $2,460,384,000 after buying an additional 8,464,257 shares during the period. Institutional investors own 74.89% of the company’s stock.
Citigroup Inc. (C) traded down 0.022% on Friday, reaching $67.205. The company’s stock had a trading volume of 5,511,360 shares. Citigroup Inc. has a 52 week low of $45.16 and a 52 week high of $69.86. The stock has a market capitalization of $183.10 billion, a P/E ratio of 13.454 and a beta of 1.48. The firm has a 50 day moving average price of $67.13 and a 200 day moving average price of $61.83.
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 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 during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the company earned $1.24 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Citigroup Inc. will post $5.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be issued a dividend of $0.32 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.90%. Citigroup’s payout ratio is presently 25.55%.
Citigroup declared that its board has authorized a stock buyback plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.
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C has been the subject of several research reports. Credit Suisse Group reiterated an “outperform” rating and set a $76.00 price objective (up from $70.00) on shares of Citigroup in a research note on Wednesday, July 26th. BidaskClub lowered Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Deutsche Bank AG reiterated a “hold” rating on shares of Citigroup in a research note on Monday, July 3rd. HSBC Holdings plc initiated coverage on Citigroup in a research note on Tuesday, July 11th. They set a “hold” rating and a $71.00 price objective for the company. Finally, Zacks Investment Research lowered Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have given 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 $69.08.
In related 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 transaction, the insider now owns 56,394 shares in the company, valued at approximately $3,889,494.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.
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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