Citigroup Inc. (C) Position Lessened by Teacher Retirement System of Texas
Teacher Retirement System of Texas lessened its holdings in Citigroup Inc. (NYSE:C) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,503,705 shares of the financial services provider’s stock after selling 2,966 shares during the period. Citigroup accounts for approximately 1.2% of Teacher Retirement System of Texas’ portfolio, making the stock its 14th largest holding. Teacher Retirement System of Texas owned approximately 0.09% of Citigroup worth $167,448,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of C. Patten Group Inc. lifted its position in Citigroup by 6.6% during the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. grew its stake in Citigroup by 60.8% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock worth $106,000 after buying an additional 599 shares in the last quarter. Advantage Investment Management LLC grew its stake in Citigroup by 109.3% in the 1st 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Citigroup in the 1st quarter worth approximately $123,000. Finally, Shine Investment Advisory Services Inc. purchased a new position in Citigroup in the 2nd quarter worth approximately $123,000. Institutional investors own 75.38% of the company’s stock.
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 shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the transaction, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction dated 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 owns 77,570 shares in the company, valued at $5,239,853.50. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
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Shares of Citigroup Inc. (NYSE C) opened at 74.13 on Wednesday. Citigroup Inc. has a 52 week low of $47.54 and a 52 week high of $74.38. The stock’s 50 day moving average is $69.11 and its 200-day moving average is $64.51. The company has a market cap of $201.97 billion, a price-to-earnings ratio of 14.84 and a beta of 1.45.
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 Zacks’ 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 revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. On average, equities analysts anticipate that Citigroup Inc. will post $5.20 earnings per share for the current year.
Citigroup announced that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Several analysts have recently weighed in on C shares. Atlantic Securities restated an “overweight” rating and set a $85.00 price objective (up previously from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 target price for the company in a research report on Thursday, August 3rd. Buckingham Research reiterated a “buy” rating and issued a $81.00 target price (up from $70.00) on shares of Citigroup in a research report on Monday, July 10th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $72.00 target price (up previously from $64.00) on shares of Citigroup in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $71.16.
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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