3,000 Shares in Citigroup Inc. (C) Purchased by Ironwood Investment Management LLC
Ironwood Investment Management LLC purchased a new position in shares of Citigroup Inc. (NYSE:C) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,000 shares of the financial services provider’s stock, valued at approximately $201,000.
Several other institutional investors have also bought and sold shares of the company. Endurance Wealth Management Inc. raised its holdings in shares of Citigroup by 0.3% during the 1st quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock worth $588,000 after buying an additional 25 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of Citigroup by 0.8% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock worth $358,000 after buying an additional 40 shares in the last quarter. Regal Investment Advisors LLC raised its holdings in shares of Citigroup by 2.0% during the 1st quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock worth $227,000 after buying an additional 74 shares in the last quarter. Arrow Financial Corp raised its holdings in shares of Citigroup by 4.7% during the 1st quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock worth $113,000 after buying an additional 85 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Citigroup by 2.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,425 shares of the financial services provider’s stock worth $265,000 after buying an additional 93 shares in the last quarter. 75.40% of the stock is owned by institutional investors.
In other news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the sale, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
Citigroup Inc. (C) opened at 69.22 on Friday. The company’s 50-day moving average price is $67.83 and its 200-day moving average price is $63.44. The firm has a market capitalization of $188.61 billion, a P/E ratio of 13.86 and a beta of 1.47. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86.
Citigroup (NYSE:C) last posted its quarterly earnings data 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 analysts’ expectations of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS. Equities research analysts expect that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
Citigroup announced that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.85%. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, August 3rd. Citigroup’s payout ratio is presently 25.55%.
C has been the topic of a number of research reports. UBS AG upgraded Citigroup from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $58.00 to $64.00 in a research report on Friday, June 9th. Keefe, Bruyette & Woods set a $75.00 price objective on Citigroup and gave the stock a “buy” rating in a research report on Sunday, August 13th. Societe Generale upgraded Citigroup from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $63.00 to $70.00 in a research report on Monday. Credit Suisse Group restated a “buy” rating and set a $73.00 price objective on shares of Citigroup in a research report on Wednesday. Finally, Wells Fargo & Company initiated coverage on Citigroup in a research report on Wednesday, August 9th. They set an “outperform” rating and a $90.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $68.99.
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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