Canada Pension Plan Investment Board lowered its position in shares of Citigroup Inc. (NYSE:C) by 34.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,360,686 shares of the financial services provider’s stock after selling 1,736,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.12% of Citigroup worth $224,763,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Patten Group Inc. boosted its holdings in shares of Citigroup by 6.6% in the 1st quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. boosted its holdings in shares of Citigroup by 60.8% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares during the last quarter. Advantage Investment Management LLC boosted its holdings in shares of Citigroup by 109.3% in the 1st quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Citigroup in the 1st quarter valued at approximately $123,000. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Citigroup in the 2nd quarter valued at approximately $123,000. 75.38% of the stock is owned by hedge funds and other institutional investors.
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In related news, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $5,239,853.50. 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 72.74 on Friday. The company has a market cap of $198.18 billion, a PE ratio of 14.56 and a beta of 1.47. Citigroup Inc. has a 12 month low of $45.16 and a 12 month high of $72.90. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 EPS. Equities analysts predict that Citigroup Inc. will post $5.20 earnings per share for the current fiscal year.
Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts have recently commented on C shares. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $71.55 price objective for the company in a report on Wednesday, June 7th. Keefe, Bruyette & Woods set a $69.00 price objective on Citigroup and gave the company a “buy” rating in a report on Thursday, June 8th. UBS AG raised Citigroup from a “sell” rating to a “neutral” rating and increased their price objective for the company from $58.00 to $64.00 in a report on Friday, June 9th. J P Morgan Chase & Co reissued a “sell” rating on shares of Citigroup in a report on Friday, June 9th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $68.00 price objective (up previously from $64.00) on shares of Citigroup in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $71.16.
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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