Lockheed Martin Investment Management Co. Has $4.68 Million Stake in Citigroup Inc. (C)
Lockheed Martin Investment Management Co. increased its position in shares of Citigroup Inc. (NYSE:C) by 39.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 78,200 shares of the financial services provider’s stock after buying an additional 22,200 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Citigroup were worth $4,678,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in C. Endurance Wealth Management Inc. boosted its stake 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 valued at $588,000 after buying an additional 25 shares during the period. Clear Harbor Asset Management LLC boosted 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 valued at $299,000 after buying an additional 38 shares during the period. Norway Savings Bank boosted 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 valued at $818,000 after buying an additional 45 shares during the period. Perritt Capital Management Inc. boosted 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 valued at $409,000 after buying an additional 50 shares during the period. Finally, Cypress Wealth Advisors LLC boosted 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 valued at $290,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 74.75% of the company’s stock.
Shares of Citigroup Inc. (C) traded up 1.25% during trading on Friday, reaching $68.98. The company’s stock had a trading volume of 18,138,967 shares. The company’s 50-day moving average price is $66.26 and its 200 day moving average price is $61.34. Citigroup Inc. has a 1-year low of $42.86 and a 1-year high of $69.62. The stock has a market capitalization of $187.94 billion, a price-to-earnings ratio of 13.81 and a beta of 1.48. Citigroup also was the recipient of unusually large options trading activity on Thursday. Traders purchased 24,677 put options on the stock. This is an increase of approximately 104% compared to the typical volume of 12,075 put options.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business posted $1.24 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post $5.23 EPS for the current year.
The company also recently disclosed 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. 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. The ex-dividend date of this dividend is Thursday, August 3rd. Citigroup’s dividend payout ratio is currently 12.77%.
Citigroup announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $15.60 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
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Several brokerages recently weighed in on C. UBS AG raised 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 report on Friday, June 9th. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 target price on the stock in a research report on Thursday. Credit Suisse Group reaffirmed an “outperform” rating and issued a $76.00 target price (up from $70.00) on shares of Citigroup in a research report on Wednesday, July 26th. BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $67.43 to $65.00 in a research report on Monday. They noted that the move was a valuation call. Finally, HSBC Holdings plc began coverage on Citigroup in a research report on Tuesday, July 11th. They issued a “hold” rating and a $71.00 target price on the stock. Two investment 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 stock. The company has a consensus rating of “Buy” and an average price target 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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