Supplemental Annuity Collective Trust of NJ Has $2,752,000 Holdings in Citigroup Inc. (C)
Supplemental Annuity Collective Trust of NJ maintained its stake in Citigroup Inc. (NYSE:C) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,143 shares of the financial services provider’s stock at the end of the 2nd quarter. Citigroup accounts for 1.2% of Supplemental Annuity Collective Trust of NJ’s holdings, making the stock its 17th biggest holding. Supplemental Annuity Collective Trust of NJ’s holdings in Citigroup were worth $2,752,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Endurance Wealth Management Inc. grew 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 acquiring an additional 25 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its stake in Citigroup by 0.8% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 40 shares during the period. Regal Investment Advisors LLC grew its stake in Citigroup by 2.0% in the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 74 shares during the period. Arrow Financial Corp grew its stake in Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 85 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Citigroup by 2.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,425 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 93 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s 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 in the company, valued at approximately $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 business’s 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 completion of the transaction, the chief executive officer now owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.
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Shares of Citigroup Inc. (C) opened at 69.04 on Friday. The firm has a 50-day moving average price of $67.87 and a 200 day moving average price of $63.51. The company has a market cap of $188.10 billion, a price-to-earnings ratio of 13.82 and a beta of 1.47. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86.
Citigroup (NYSE:C) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict 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 paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s payout ratio is presently 25.55%.
Citigroup announced that its board has approved a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of research firms have issued reports on C. Wells Fargo & Company began coverage on Citigroup in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 target price for the company. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. HSBC Holdings plc set a $74.00 target price on Citigroup and gave the company a “hold” rating in a research note on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and issued a $68.00 target price on shares of Citigroup in a research note on Friday, July 7th. Finally, BMO Capital Markets cut Citigroup from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $67.43 to $65.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Citigroup presently has a consensus rating of “Buy” and a consensus target price of $69.79.
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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