Wafra Investment Advisory Group Inc. NY Increases Position in Citigroup Inc. (C)
Wafra Investment Advisory Group Inc. NY raised its position in shares of Citigroup Inc. (NYSE:C) by 138.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,317 shares of the financial services provider’s stock after buying an additional 117,879 shares during the period. Wafra Investment Advisory Group Inc. NY’s holdings in Citigroup were worth $12,162,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in C. ProShare Advisors LLC boosted its position in Citigroup by 0.5% in the first quarter. ProShare Advisors LLC now owns 730,715 shares of the financial services provider’s stock valued at $43,711,000 after buying an additional 3,461 shares in the last quarter. Fisher Asset Management LLC boosted its position in Citigroup by 1.2% in the first quarter. Fisher Asset Management LLC now owns 8,394,274 shares of the financial services provider’s stock valued at $502,145,000 after buying an additional 103,613 shares in the last quarter. IFC Holdings Incorporated FL boosted its position in Citigroup by 10.1% in the first quarter. IFC Holdings Incorporated FL now owns 8,154 shares of the financial services provider’s stock valued at $488,000 after buying an additional 748 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in Citigroup by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 7,202 shares of the financial services provider’s stock valued at $431,000 after buying an additional 250 shares in the last quarter. Finally, Sigma Planning Corp boosted its position in Citigroup by 10.8% in the first quarter. Sigma Planning Corp now owns 15,033 shares of the financial services provider’s stock valued at $899,000 after buying an additional 1,466 shares in the last quarter. Institutional investors own 75.39% of the company’s stock.
Shares of Citigroup Inc. (C) traded up 1.34% during midday trading on Friday, reaching $68.94. The company had a trading volume of 4,719,628 shares. The stock’s 50 day moving average is $67.56 and its 200-day moving average is $62.95. The stock has a market capitalization of $187.83 billion, a PE ratio of 13.80 and a beta of 1.48. Citigroup Inc. has a 12-month low of $45.16 and a 12-month high of $69.86.
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, topping the consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $1.24 earnings per share. On average, equities research analysts predict that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.28 annualized dividend and a yield of 1.88%. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is presently 25.55%.
Citigroup announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Several equities analysts recently issued reports on the company. UBS AG upgraded Citigroup from a “sell” rating to a “neutral” rating and raised their price target for the company from $58.00 to $64.00 in a report on Friday, June 9th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price target on the stock. in a report on Monday, July 3rd. Keefe, Bruyette & Woods set a $69.00 price target on Citigroup and gave the company a “buy” rating in a report on Thursday, June 8th. Bank of America Corporation reiterated a “buy” rating and issued a $68.00 price target (up previously from $64.00) on shares of Citigroup in a report on Tuesday, June 13th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $68.00 price target on shares of Citigroup in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $69.08.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the transaction, the chief executive officer now owns 77,570 shares in the company, valued at $5,239,853.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the 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 completion of the transaction, the insider now owns 56,394 shares in the company, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate 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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