Glaxis Capital Management LLC Has $936,000 Position in Citigroup Inc. (C)
Glaxis Capital Management LLC lowered its stake in Citigroup Inc. (NYSE:C) by 90.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,000 shares of the financial services provider’s stock after selling 134,920 shares during the quarter. Citigroup makes up 1.8% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Glaxis Capital Management LLC’s holdings in Citigroup were worth $936,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of C. Deane Retirement Strategies Inc. purchased a new position in Citigroup during the 2nd quarter valued at about $1,576,000. First Hawaiian Bank purchased a new position in Citigroup during the 2nd quarter valued at about $211,000. Capital One National Association grew its stake in Citigroup by 4.3% during the 2nd quarter. Capital One National Association now owns 37,041 shares of the financial services provider’s stock valued at $2,477,000 after acquiring an additional 1,539 shares in the last quarter. Hellman Jordan Management Co. Inc. MA purchased a new position in Citigroup during the 2nd quarter valued at about $982,000. Finally, BKD Wealth Advisors LLC grew its stake in Citigroup by 23.2% during the 2nd quarter. BKD Wealth Advisors LLC now owns 9,414 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 1,771 shares in the last quarter. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (NYSE C) traded down 0.29% during mid-day trading on Friday, reaching $69.04. The company’s stock had a trading volume of 18,360,910 shares. The firm has a market cap of $188.10 billion, a price-to-earnings ratio of 13.82 and a beta of 1.47. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $69.86. The firm has a 50 day moving average price of $67.87 and a 200 day moving average price of $63.51.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the company earned $1.24 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post $5.21 EPS for the current fiscal year.
Citigroup declared that its board has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Thursday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio (DPR) is 25.55%.
Several equities analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Citigroup in a research note on Wednesday, August 9th. They set an “outperform” rating and a $90.00 target price on the stock. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. HSBC Holdings plc set a $74.00 target price on Citigroup and gave the company a “hold” rating in a research note on Friday, August 11th. Jefferies Group LLC reaffirmed a “hold” rating and set a $68.00 target price on shares of Citigroup in a research note on Friday, July 7th. Finally, BMO Capital Markets cut Citigroup from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $67.43 to $65.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $68.99.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was 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 filing with the SEC, which is available through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.
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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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