Citigroup Inc. (C) Shares Sold by United Bank
United Bank trimmed its stake in Citigroup Inc. (NYSE:C) by 26.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,339 shares of the financial services provider’s stock after selling 8,522 shares during the quarter. Citigroup accounts for 1.4% of United Bank’s portfolio, making the stock its 29th largest position. United Bank’s holdings in Citigroup were worth $1,561,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after buying an additional 189,447,104 shares during the last quarter. Amalgamated Bank increased its holdings in Citigroup by 1.0% in the first quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock worth $11,674,000 after buying an additional 1,937 shares during the last quarter. Advisory Services Network LLC acquired a new position in Citigroup in the first quarter worth approximately $877,000. Shelton Capital Management increased its holdings in Citigroup by 13.9% in the first quarter. Shelton Capital Management now owns 60,400 shares of the financial services provider’s stock worth $3,613,000 after buying an additional 7,384 shares during the last quarter. Finally, Advisor Partners LLC increased its holdings in Citigroup by 10.6% in the first quarter. Advisor Partners LLC now owns 48,936 shares of the financial services provider’s stock worth $2,927,000 after buying an additional 4,685 shares during the last quarter. 75.38% of the stock is owned by institutional investors and hedge funds.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the company’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 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 this link. Also, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, 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. Corporate insiders own 0.10% of the company’s stock.
Citigroup Inc. (NYSE C) opened at 71.40 on Monday. The company has a market capitalization of $194.53 billion, a PE ratio of 14.29 and a beta of 1.47. Citigroup Inc. has a 12 month low of $45.16 and a 12 month high of $72.20. The company has a 50-day moving average price of $68.04 and a 200 day moving average price of $63.70.
Citigroup (NYSE:C) last issued its quarterly earnings data 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. 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 period in the prior year, the firm posted $1.24 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Citigroup Inc. will post $5.21 EPS for the current fiscal year.
Citigroup declared that its Board of Directors has approved 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts recently commented on C shares. Credit Suisse Group restated an “outperform” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. BidaskClub downgraded Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a report on Monday, July 3rd. HSBC Holdings plc started coverage on Citigroup in a report on Tuesday, July 11th. They issued a “hold” rating and a $71.00 price objective on the stock. Finally, Zacks Investment Research downgraded Citigroup from a “hold” rating to a “sell” rating in a report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $70.08.
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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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