Citigroup Inc. (C) Stake Held by Western Standard LLC
Western Standard LLC held its position in Citigroup Inc. (NYSE:C) during the first quarter, Holdings Channel reports. The institutional investor owned 9,000 shares of the financial services provider’s stock at the end of the first quarter. Citigroup comprises 0.8% of Western Standard LLC’s investment portfolio, making the stock its 26th largest position. Western Standard LLC’s holdings in Citigroup were worth $538,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Tompkins Financial Corp boosted its position in Citigroup by 3,188.6% in the first quarter. Tompkins Financial Corp now owns 4,604 shares of the financial services provider’s stock worth $192,000 after buying an additional 4,464 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Citigroup during the first quarter worth $903,000. Atria Investments LLC boosted its position in Citigroup by 8.3% in the first quarter. Atria Investments LLC now owns 16,160 shares of the financial services provider’s stock worth $967,000 after buying an additional 1,245 shares during the last quarter. Parametrica Management Ltd acquired a new position in Citigroup during the first quarter worth $408,000. Finally, Guild Investment Management Inc. boosted its position in Citigroup by 17.6% in the first quarter. Guild Investment Management Inc. now owns 97,890 shares of the financial services provider’s stock worth $5,856,000 after buying an additional 14,630 shares during the last quarter. 74.89% of the stock is owned by institutional investors.
Shares of Citigroup Inc. (NYSE:C) traded down 0.62% on Friday, reaching $66.80. The company had a trading volume of 15,172,831 shares. The firm has a 50-day moving average price of $67.22 and a 200 day moving average price of $61.90. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86. The firm has a market capitalization of $182.00 billion, a price-to-earnings ratio of 13.37 and a beta of 1.48.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. Equities research analysts predict that Citigroup Inc. will post $5.22 earnings per share 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 1.92%. 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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A number of research firms recently weighed in on C. J P Morgan Chase & Co set a $73.50 price target on Citigroup and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 price target for the company. in a report on Monday, July 31st. Wells Fargo & Company began coverage on Citigroup in a report on Wednesday. They issued an “outperform” rating and a $90.00 price target 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 issued a $76.00 price target (up previously from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Citigroup has a consensus rating of “Buy” and an average 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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