Norway Savings Bank boosted its stake in Citigroup Inc. (NYSE:C) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,070 shares of the financial services provider’s stock after buying an additional 395 shares during the period. Norway Savings Bank’s holdings in Citigroup were worth $941,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of C. Horan Capital Management boosted its stake in Citigroup by 3.5% in the second quarter. Horan Capital Management now owns 275,329 shares of the financial services provider’s stock valued at $18,414,000 after buying an additional 9,340 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in Citigroup by 7.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,183 shares of the financial services provider’s stock valued at $280,000 after buying an additional 297 shares during the period. CENTRAL TRUST Co boosted its stake in Citigroup by 58.0% in the second quarter. CENTRAL TRUST Co now owns 23,605 shares of the financial services provider’s stock valued at $1,579,000 after buying an additional 8,668 shares during the period. Abner Herrman & Brock LLC boosted its stake in Citigroup by 0.9% in the second quarter. Abner Herrman & Brock LLC now owns 211,631 shares of the financial services provider’s stock valued at $14,154,000 after buying an additional 1,922 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Citigroup by 494.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 452,581 shares of the financial services provider’s stock valued at $30,269,000 after buying an additional 376,416 shares in the last quarter. Institutional investors own 74.75% of the company’s stock.
Citigroup Inc. (NYSE:C) traded up 1.25% during mid-day trading on Friday, reaching $68.98. 18,148,439 shares of the company were exchanged. Citigroup Inc. has a one year low of $42.86 and a one year high of $69.62. The stock has a 50-day moving average price of $66.26 and a 200 day moving average price of $61.34. The company has a market capitalization of $187.94 billion, a PE ratio of 13.81 and a beta of 1.48. Citigroup also was the target of some unusual options trading activity on Thursday. Traders purchased 24,677 put options on the stock. This represents an increase of approximately 104% compared to the average volume of 12,075 put options.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) 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 net margin of 18.11% and a return on equity of 7.32%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 EPS. Analysts predict that Citigroup Inc. will post $5.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.28 annualized dividend and a yield of 1.86%. This is a boost from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is currently 25.55%.
Citigroup declared that its board has initiated a stock buyback plan 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 plans are often a sign that the company’s board believes its shares are undervalued.
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Several research analysts recently issued reports on the stock. UBS AG raised shares of Citigroup from a “sell” rating to a “neutral” rating and increased their target price for the stock from $58.00 to $64.00 in a research note on Friday, June 9th. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 target price on the stock. in a research note on Monday, July 3rd. Keefe, Bruyette & Woods set a $69.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research note on Thursday, June 8th. Jefferies Group LLC reissued a “hold” rating and set a $68.00 target price on shares of Citigroup in a research note on Friday, May 5th. Finally, Bank of America Corporation reissued a “buy” rating and set a $68.00 target price (up from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.04.
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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