Citigroup Inc. (NYSE:C) Stake Boosted by Private Bank & Trust Co.
Private Bank & Trust Co. raised its stake in Citigroup Inc. (NYSE:C) by 39.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,726 shares of the financial services provider’s stock after buying an additional 8,624 shares during the period. Private Bank & Trust Co.’s holdings in Citigroup were worth $2,055,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Patten Group Inc. boosted its stake in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the period. Dubuque Bank & Trust Co. boosted its stake in shares of Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares during the period. Arrow Financial Corp boosted its stake in shares of Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after buying an additional 85 shares during the period. Advantage Investment Management LLC boosted its stake in shares of Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the period. Finally, Pinnacle Bank purchased a new stake in shares of Citigroup during the first quarter valued at about $123,000. Institutional investors and hedge funds own 74.89% of the company’s stock.
Citigroup Inc. (NYSE:C) traded down 0.62% during trading on Friday, hitting $66.80. The stock had a trading volume of 15,172,831 shares. The company has a market cap of $182.00 billion, a P/E ratio of 13.37 and a beta of 1.48. Citigroup Inc. has a one year low of $45.16 and a one year high of $69.86. The firm has a 50 day moving average of $67.22 and a 200-day moving average of $61.90.
Citigroup (NYSE:C) last posted 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. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. Equities analysts anticipate that Citigroup Inc. will post $5.22 earnings per share for the current fiscal 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 issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s payout ratio is currently 25.55%.
Citigroup announced that its board has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire 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.
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Several brokerages have recently issued reports on C. UBS AG raised Citigroup from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $58.00 to $64.00 in a report on Friday, June 9th. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective on the stock in a report on Thursday, August 3rd. HSBC Holdings plc set a $74.00 price objective on Citigroup and gave the stock a “hold” rating in a report on Friday. Wells Fargo & Company began coverage on Citigroup in a report on Wednesday. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $64.00 price objective on shares of Citigroup in a report on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Citigroup presently has an average rating of “Buy” and a consensus target price of $69.08.
In related news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the sale, 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 available 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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