Citigroup Inc. (C) Shares Sold by Condor Capital Management
Condor Capital Management lowered its position in Citigroup Inc. (NYSE:C) by 7.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,360 shares of the financial services provider’s stock after selling 2,463 shares during the period. Condor Capital Management’s holdings in Citigroup were worth $1,936,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Citigroup during the fourth quarter worth about $1,927,671,000. Bank of New York Mellon Corp boosted its stake in Citigroup by 31.3% in the first quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after buying an additional 10,294,403 shares in the last quarter. Harris Associates L P boosted its stake in Citigroup by 25.9% in the first quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock valued at $2,460,384,000 after buying an additional 8,464,257 shares in the last quarter. Glenview Capital Management LLC purchased a new stake in Citigroup during the fourth quarter valued at $1,221,000. Finally, Boston Partners boosted its stake in Citigroup by 16.1% in the first quarter. Boston Partners now owns 22,670,807 shares of the financial services provider’s stock valued at $1,356,168,000 after buying an additional 3,139,679 shares in the last quarter. 74.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Citigroup Inc. (NYSE C) traded up 1.25% during midday trading on Friday, hitting $68.98. The stock had a trading volume of 18,034,891 shares. The stock’s 50-day moving average is $66.26 and its 200-day moving average is $61.34. The stock has a market cap of $187.94 billion, a PE ratio of 13.81 and a beta of 1.48. Citigroup Inc. has a 12 month low of $42.86 and a 12 month high of $69.62. Citigroup also was the recipient of some unusual options trading on Thursday. Investors purchased 24,677 put options on the company. This is an increase of 104% compared to the typical daily volume of 12,075 put options.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Equities analysts anticipate that Citigroup Inc. will post $5.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.32 per share. This is an increase 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 is presently 12.77%.
Citigroup announced that its board has approved a share repurchase plan on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
A number of analysts have weighed in on the stock. J P Morgan Chase & Co set a $73.50 target price on shares of Citigroup and gave the company a “buy” rating in a research report on Wednesday. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 price target on the stock. in a report on Monday. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a report on Monday, July 3rd. Credit Suisse Group restated an “outperform” rating and set a $76.00 price target (up from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “hold” rating and set a $68.00 price target on shares of Citigroup in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Citigroup currently has a consensus rating of “Buy” and a consensus 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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