Citigroup Inc. (C) Shares Bought by Overbrook Management Corp
Overbrook Management Corp increased its position in shares of Citigroup Inc. (NYSE:C) by 52.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 538,156 shares of the financial services provider’s stock after buying an additional 185,201 shares during the period. Citigroup accounts for approximately 7.0% of Overbrook Management Corp’s portfolio, making the stock its 3rd largest position. Overbrook Management Corp’s holdings in Citigroup were worth $32,192,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Huntington National Bank boosted its stake in shares of Citigroup by 29.2% in the first quarter. Huntington National Bank now owns 33,802 shares of the financial services provider’s stock worth $2,022,000 after buying an additional 7,643 shares during the last quarter. Moody National Bank Trust Division boosted its stake in shares of Citigroup by 8.8% in the first quarter. Moody National Bank Trust Division now owns 21,485 shares of the financial services provider’s stock worth $1,285,000 after buying an additional 1,730 shares during the last quarter. Oakbrook Investments LLC boosted its stake in shares of Citigroup by 0.3% in the first quarter. Oakbrook Investments LLC now owns 179,030 shares of the financial services provider’s stock worth $10,710,000 after buying an additional 450 shares during the last quarter. Glaxis Capital Management LLC acquired a new stake in shares of Citigroup during the first quarter worth approximately $8,908,000. Finally, Boys Arnold & Co. Inc. boosted its stake in shares of Citigroup by 27.1% in the first quarter. Boys Arnold & Co. Inc. now owns 14,432 shares of the financial services provider’s stock worth $863,000 after buying an additional 3,075 shares during the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.
Citigroup Inc. (C) traded up 0.24% on Friday, reaching $67.85. 11,883,138 shares of the company traded hands. The stock has a market capitalization of $184.86 billion, a price-to-earnings ratio of 13.58 and a beta of 1.48. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $69.86. The firm has a 50 day moving average price of $67.51 and a 200 day moving average price of $62.64.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. The firm had revenue of $17.90 billion during 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 business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. Equities research analysts predict that Citigroup Inc. will post $5.22 EPS for the current year.
Citigroup declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.89%. This is an increase from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is currently 25.55%.
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A number of equities research analysts recently commented on the stock. UBS AG raised shares of Citigroup from a “sell” rating to a “neutral” rating and increased their price objective for the company from $58.00 to $64.00 in a research note on Friday, June 9th. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price target on the stock. in a research note on Monday, July 3rd. Bank of America Corporation reaffirmed a “buy” rating and set a $68.00 price target (up from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods set a $69.00 price target on shares of Citigroup and gave the stock a “buy” rating in a research note on Thursday, June 8th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set 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 given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $69.08.
In other news, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the transaction, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.
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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