Norway Savings Bank increased its position in shares of Citigroup Inc. (NYSE:C) by 2.9% during the second quarter, according to its most recent Form 13F filing 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 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Kovitz Investment Group Partners LLC raised its position in Citigroup by 0.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 552,604 shares of the financial services provider’s stock valued at $32,841,000 after buying an additional 2,217 shares during the last quarter. Hilltop Holdings Inc. raised its position in Citigroup by 1.0% in the fourth quarter. Hilltop Holdings Inc. now owns 19,336 shares of the financial services provider’s stock valued at $1,149,000 after buying an additional 200 shares during the last quarter. Caxton Associates LP raised its position in Citigroup by 50.0% in the fourth quarter. Caxton Associates LP now owns 150,000 shares of the financial services provider’s stock valued at $8,915,000 after buying an additional 50,000 shares during the last quarter. Glenview Capital Management LLC purchased a new stake in Citigroup during the fourth quarter valued at about $1,221,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Citigroup during the fourth quarter valued at about $8,526,000. 74.75% of the stock is owned by institutional investors.
Shares of Citigroup Inc. (NYSE:C) opened at 68.98 on Friday. The firm has a market cap of $187.94 billion, a PE ratio of 13.81 and a beta of 1.48. The company’s 50 day moving average is $66.26 and its 200-day moving average is $61.34. Citigroup Inc. has a 12 month low of $42.86 and a 12 month high of $69.62. Citigroup also was the recipient of unusually large options trading on Thursday. Traders purchased 24,677 put options on the company. This represents an increase of 104% compared to the average volume of 12,075 put options.
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 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 company had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the business earned $1.24 EPS. Citigroup’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts predict that Citigroup Inc. will post $5.23 EPS for the current year.
Citigroup declared that its Board of Directors has initiated a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be issued a $0.32 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is currently 25.55%.
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Several research firms have recently weighed in on C. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $66.78 target price for the company in a research report on Monday, April 10th. Zacks Investment Research downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Nomura reissued a “buy” rating and set a $69.00 target price on shares of Citigroup in a research note on Monday, April 17th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $78.00 target price (up from $77.00) on shares of Citigroup in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $68.00 price target on shares of Citigroup in a research note on Friday, May 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $68.04.
Citigroup Company Profile
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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