Citigroup Inc. (C) Shares Sold by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. trimmed its holdings in Citigroup Inc. (NYSE:C) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,911 shares of the financial services provider’s stock after selling 2,540 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Citigroup were worth $2,134,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its stake in Citigroup by 2,718.7% during the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after acquiring an additional 189,447,104 shares in the last quarter. Vanguard Group Inc. increased its holdings in Citigroup by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after acquiring an additional 4,391,347 shares during the last quarter. FMR LLC increased its holdings in Citigroup by 18.2% in the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after acquiring an additional 16,257,931 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Citigroup by 31.3% in the 1st quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after acquiring an additional 10,294,403 shares during the last quarter. Finally, Harris Associates L P lifted its stake in Citigroup by 25.9% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 75.38% of the company’s stock.
C has been the topic of several research reports. Wells Fargo & Company reiterated a “buy” rating on shares of Citigroup in a research report on Monday. BidaskClub raised Citigroup from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Raymond James Financial, Inc. restated an “underperform” rating on shares of Citigroup in a report on Wednesday, September 27th. Royal Bank Of Canada restated a “buy” rating and set a $75.00 price target on shares of Citigroup in a report on Wednesday, September 27th. Finally, Atlantic Securities reaffirmed an “overweight” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Citigroup currently has an average rating of “Buy” and a consensus target price of $71.16.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, 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 SEC, which is available through the SEC website. 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 value of $2,702,000.00. Following the completion of the sale, the chief executive officer now directly 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 corporate insiders.
Citigroup Inc. (C) opened at 73.80 on Tuesday. The company has a market cap of $201.07 billion, a P/E ratio of 14.77 and a beta of 1.45. Citigroup Inc. has a 52-week low of $47.08 and a 52-week high of $73.89. The stock’s 50 day moving average price is $68.94 and its 200-day moving average price is $64.41.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business posted $1.24 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post $5.20 earnings per share for the current fiscal year.
Citigroup declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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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