F&V Capital Management LLC Continues to Hold Stake in Citigroup Inc. (C)
F&V Capital Management LLC continued to hold its stake in Citigroup Inc. (NYSE:C) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,500 shares of the financial services provider’s stock at the end of the 2nd quarter. F&V Capital Management LLC’s holdings in Citigroup were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in C. Waldron LP raised its position in shares of Citigroup by 21.2% in the 1st quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 1,276 shares during the period. Dowling & Yahnke LLC raised its position in shares of Citigroup by 2.4% in the 1st quarter. Dowling & Yahnke LLC now owns 79,229 shares of the financial services provider’s stock valued at $4,739,000 after acquiring an additional 1,888 shares during the period. Lourd Capital LLC acquired a new stake in shares of Citigroup in the 1st quarter valued at approximately $280,000. Hoertkorn Richard Charles raised its position in shares of Citigroup by 16.7% in the 1st quarter. Hoertkorn Richard Charles now owns 77,445 shares of the financial services provider’s stock valued at $4,633,000 after acquiring an additional 11,090 shares during the period. Finally, Greenhaven Associates Inc. raised its position in shares of Citigroup by 0.3% in the 1st quarter. Greenhaven Associates Inc. now owns 11,385,712 shares of the financial services provider’s stock valued at $681,093,000 after acquiring an additional 30,965 shares during the period. Institutional investors and hedge funds own 75.38% of the company’s stock.
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In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were 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 of the company’s stock, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
Citigroup Inc. (C) traded up 2.30% during trading on Monday, hitting $70.63. 8,624,084 shares of the company traded hands. The stock has a 50-day moving average price of $67.87 and a 200-day moving average price of $63.51. Citigroup Inc. has a 12-month low of $45.16 and a 12-month high of $70.68. The firm has a market capitalization of $192.44 billion, a P/E ratio of 14.14 and a beta of 1.47.
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 Thomson Reuters’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. Citigroup’s revenue was up 2.0% compared to the same quarter last year. Equities analysts expect that Citigroup Inc. will post $5.21 EPS 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 issued a dividend of $0.32 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.28 annualized dividend and a yield of 1.85%. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio is 25.55%.
Citigroup declared that its Board of Directors has initiated a share repurchase 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 buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of brokerages recently weighed in on C. Credit Suisse Group reiterated a “buy” rating and issued a $73.00 price target on shares of Citigroup in a research report on Wednesday, September 13th. Societe Generale upgraded shares of Citigroup from a “sell” rating to a “hold” rating and increased their price target for the company from $63.00 to $70.00 in a research report on Monday, September 11th. ValuEngine upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods set a $75.00 price target on shares of Citigroup and gave the company a “buy” rating in a research report on Sunday, August 13th. Finally, HSBC Holdings plc set a $74.00 price target on shares of Citigroup and gave the company a “hold” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.79.
Citigroup Company Profile
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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