Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Citigroup Inc. (NYSE:C) by 6.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,921,130 shares of the financial services provider’s stock after selling 426,782 shares during the period. Citigroup makes up 0.7% of Mitsubishi UFJ Trust & Banking Corp’s holdings, making the stock its 27th largest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.22% of Citigroup worth $354,202,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Endurance Wealth Management Inc. boosted its position in Citigroup by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock worth $588,000 after buying an additional 25 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in Citigroup by 0.8% in the first quarter. Clear Harbor Asset Management LLC now owns 4,991 shares of the financial services provider’s stock worth $299,000 after buying an additional 38 shares during the period. Norway Savings Bank raised its stake in Citigroup by 0.3% in the first quarter. Norway Savings Bank now owns 13,675 shares of the financial services provider’s stock worth $818,000 after buying an additional 45 shares during the period. Perritt Capital Management Inc. raised its stake in Citigroup by 0.7% in the fourth quarter. Perritt Capital Management Inc. now owns 6,887 shares of the financial services provider’s stock worth $409,000 after buying an additional 50 shares during the period. Finally, Cypress Wealth Advisors LLC raised its stake in Citigroup by 1.1% in the fourth quarter. Cypress Wealth Advisors LLC now owns 4,879 shares of the financial services provider’s stock worth $290,000 after buying an additional 53 shares during the period. 74.75% of the stock is owned by institutional investors and hedge funds.
Shares of Citigroup Inc. (NYSE C) traded down 1.40% during mid-day trading on Thursday, hitting $68.13. 20,937,896 shares of the company traded hands. Citigroup Inc. has a 52-week low of $42.86 and a 52-week high of $69.62. The firm has a 50-day moving average price of $66.26 and a 200 day moving average price of $61.34. The firm has a market cap of $185.62 billion, a price-to-earnings ratio of 13.57 and a beta of 1.48.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the 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 company had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post $5.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio (DPR) is 12.77%.
Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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C has been the topic of a number of analyst reports. J P Morgan Chase & Co set a $73.50 price objective on shares of Citigroup and gave the company a “buy” rating in a report on Wednesday. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 price objective on the stock. in a report on Monday. BMO Capital Markets lowered shares of Citigroup from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $67.43 to $65.00 in a report on Monday. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating and issued a $76.00 price objective (up from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. Finally, Nomura raised their price objective on shares of Citigroup from $74.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $68.03.
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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