Polianta Ltd Purchases Shares of 18,400 Citigroup Inc. (C)
Polianta Ltd purchased a new position in shares of Citigroup Inc. (NYSE:C) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,400 shares of the financial services provider’s stock, valued at approximately $1,230,000. Citigroup makes up about 0.5% of Polianta Ltd’s portfolio, making the stock its 26th biggest holding.
Several other hedge funds have also bought and sold shares of the business. Patten Group Inc. increased its stake in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock worth $105,000 after buying an additional 110 shares during the period. Arrow Financial Corp increased its stake in shares of Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock worth $113,000 after buying an additional 85 shares during the period. Advantage Investment Management LLC increased its stake in shares of Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,026 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in shares of Citigroup in the first quarter worth $123,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Citigroup by 15.0% in the first quarter. Parkside Financial Bank & Trust now owns 2,121 shares of the financial services provider’s stock worth $127,000 after buying an additional 277 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on the stock. ValuEngine raised shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods set a $75.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research note on Sunday, August 13th. HSBC Holdings plc set a $74.00 target price on shares of Citigroup and gave the stock a “hold” rating in a research note on Friday, August 11th. Wells Fargo & Company assumed coverage on shares of Citigroup in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 target price on the stock. Finally, Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 target price on the stock in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $69.08.
Citigroup Inc. (C) traded up 2.1619% during trading on Monday, hitting $67.6005. The stock had a trading volume of 8,615,304 shares. The stock’s 50-day moving average is $67.68 and its 200-day moving average is $63.24. The stock has a market capitalization of $184.18 billion, a PE ratio of 13.5336 and a beta of 1.47. Citigroup Inc. has a 52-week low of $45.16 and a 52-week 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 for the quarter, beating the consensus estimate of $1.21 by $0.07. The company had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. Citigroup’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $1.24 earnings per share. On average, analysts predict that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were given a dividend of $0.32 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is currently 25.55%.
Citigroup announced that its board has approved a share buyback plan on Wednesday, June 28th that allows the company to repurchase $15.60 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In related 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 $5,239,853.50. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were 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 currently 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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