Sii Investments Inc. WI Has $458,000 Position in Citigroup Inc. (NYSE:C)
Sii Investments Inc. WI boosted its stake in shares of Citigroup Inc. (NYSE:C) by 41.6% during the first quarter, Holdings Channel reports. The fund owned 7,666 shares of the financial services provider’s stock after buying an additional 2,251 shares during the period. Sii Investments Inc. WI’s holdings in Citigroup were worth $458,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of 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 last quarter. FMR LLC increased its position in shares of 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 last quarter. Bank of New York Mellon Corp increased its position in shares of 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 last quarter. Harris Associates L P increased its position in shares of 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 last quarter. Finally, Vanguard Group Inc. increased 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 worth $10,958,960,000 after buying an additional 4,391,347 shares in the last quarter. 74.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (C) traded down 0.62% during midday trading on Friday, hitting $66.80. 15,172,831 shares of the stock were exchanged. The stock has a market cap of $182.00 billion, a P/E ratio of 13.37 and a beta of 1.48. The firm has a 50 day moving average of $67.22 and a 200-day moving average of $61.90. Citigroup Inc. has a 12 month low of $45.16 and a 12 month high of $69.86.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. Equities research analysts anticipate that Citigroup Inc. will post $5.22 EPS for the current year.
Citigroup announced that its board has authorized a share repurchase 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 purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be given 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 dividend on an annualized basis and a yield of 1.92%. Citigroup’s dividend payout ratio (DPR) is 25.55%.
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A number of analysts have recently issued reports on the stock. J P Morgan Chase & Co set a $73.50 price objective on shares of Citigroup and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 price objective for the company. in a report on Monday, July 31st. Wells Fargo & Company assumed coverage on shares of Citigroup in a report on Wednesday. They set an “outperform” rating and a $90.00 price objective for the company. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a report on Monday, July 3rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $76.00 price objective (up from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Citigroup currently has an average rating of “Buy” and an average target price of $69.08.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,889,494.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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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