Capital One National Association Raises Position in Citigroup Inc. (C)
Capital One National Association increased its stake in Citigroup Inc. (NYSE:C) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,041 shares of the financial services provider’s stock after purchasing an additional 1,539 shares during the quarter. Capital One National Association’s holdings in Citigroup were worth $2,477,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of C. BlackRock Inc. boosted its holdings in Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares during the last quarter. FMR LLC boosted its holdings in Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after purchasing an additional 16,257,931 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 worth $2,582,269,000 after purchasing an additional 10,294,403 shares during the last quarter. Harris Associates L P boosted its holdings 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 worth $2,460,384,000 after purchasing an additional 8,464,257 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Citigroup by 2.5% in the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock worth $10,958,960,000 after purchasing an additional 4,391,347 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.
Citigroup Inc. (NYSE C) traded down 0.29% during mid-day trading on Friday, hitting $69.04. 18,360,910 shares of the stock were exchanged. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $69.86. The stock’s 50 day moving average is $67.87 and its 200 day moving average is $63.51. The stock has a market cap of $188.10 billion, a PE ratio of 13.82 and a beta of 1.47.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Analysts forecast that Citigroup Inc. will post $5.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.85%. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, August 3rd. Citigroup’s dividend payout ratio is 25.55%.
Citigroup announced that its Board of Directors 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 leadership believes its shares are undervalued.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.
C has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on shares of Citigroup in a research note on Wednesday, August 9th. They set an “outperform” rating and a $90.00 price target on the stock. Zacks Investment Research upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. HSBC Holdings plc set a $74.00 price target on shares of Citigroup and gave the stock a “hold” rating in a research note on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and set a $68.00 price target on shares of Citigroup in a research note on Friday, July 7th. Finally, BMO Capital Markets cut shares of Citigroup from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $67.43 to $65.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Citigroup presently has an average rating of “Buy” and an average target price of $68.99.
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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