Citigroup Inc. (C) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. lifted its holdings in Citigroup Inc. (NYSE:C) by 32.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 508,418 shares of the financial services provider’s stock after acquiring an additional 125,395 shares during the period. Daiwa Securities Group Inc.’s holdings in Citigroup were worth $34,003,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after acquiring an additional 189,447,104 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Citigroup by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock worth $10,958,960,000 after acquiring an additional 4,391,347 shares in the last quarter. FMR LLC raised its position in shares of Citigroup by 18.2% in the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after acquiring an additional 16,257,931 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Citigroup by 31.3% in the 1st quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock worth $2,582,269,000 after acquiring an additional 10,294,403 shares in the last quarter. Finally, Harris Associates L P raised its position in shares of Citigroup by 25.9% in the 1st quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock worth $2,460,384,000 after acquiring an additional 8,464,257 shares in the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.
C has been the subject of several research reports. UBS AG upgraded Citigroup from a “sell” rating to a “neutral” rating and raised their target price for the company from $58.00 to $64.00 in a research note on Friday, June 9th. Vetr downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 target price for the company. in a research note on Monday, July 3rd. Keefe, Bruyette & Woods set a $69.00 target price on Citigroup and gave the company a “buy” rating in a research note on Thursday, June 8th. Bank of America Corporation restated a “buy” rating and issued a $68.00 target price (up from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Finally, 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $69.79.
In related news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were 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 $3,889,494.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the firm’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 transaction of $2,702,000.00. Following the completion of the sale, 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. Company insiders own 0.10% of the company’s stock.
Shares of Citigroup Inc. (C) opened at 69.04 on Friday. Citigroup Inc. has a 12-month low of $45.16 and a 12-month high of $69.86. The company has a market cap of $188.10 billion, a PE ratio of 13.82 and a beta of 1.47. The company has a 50 day moving average of $67.87 and a 200-day moving average of $63.51.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the company posted $1.24 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post $5.21 earnings per share for the current year.
Citigroup announced that its Board of Directors has initiated a stock buyback 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 buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were issued a $0.32 dividend. The ex-dividend date was Thursday, August 3rd. 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. Citigroup’s dividend payout ratio (DPR) is currently 25.55%.
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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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