Citigroup Inc. (C) Shares Sold by QV Investors Inc.
QV Investors Inc. lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 510,763 shares of the financial services provider’s stock after selling 8,330 shares during the quarter. Citigroup makes up 2.8% of QV Investors Inc.’s portfolio, making the stock its 11th biggest holding. QV Investors Inc.’s holdings in Citigroup were worth $34,159,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in C. Waldron LP boosted its stake in Citigroup by 21.2% during the first quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock valued at $436,000 after buying an additional 1,276 shares during the last quarter. Tillar Wenstrup Advisors LLC bought a new position in Citigroup during the first quarter valued at approximately $1,971,000. CT Mason bought a new position in Citigroup during the first quarter valued at approximately $970,000. Montag A & Associates Inc. boosted its stake in Citigroup by 54.0% during the first quarter. Montag A & Associates Inc. now owns 115,073 shares of the financial services provider’s stock valued at $6,884,000 after buying an additional 40,362 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Citigroup by 140.2% during the first quarter. First Trust Advisors LP now owns 1,160,414 shares of the financial services provider’s stock valued at $69,416,000 after buying an additional 677,328 shares during the last quarter. Hedge funds and other institutional investors own 75.38% of the company’s stock.
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In other news, insider Jeffrey R. Walsh sold 5,000 shares of the 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 sale, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the 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 sale, 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. 0.10% of the stock is currently owned by company insiders.
A number of equities analysts recently commented on the company. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price target for the company. in a research note on Monday, July 3rd. UBS AG raised Citigroup from a “sell” rating to a “neutral” rating and increased their price target for the company from $58.00 to $64.00 in a research note on Friday, June 9th. Royal Bank Of Canada reissued a “buy” rating and set a $75.00 price target on shares of Citigroup in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods set a $69.00 price target on Citigroup and gave the company a “buy” rating in a research note on Thursday, June 8th. Finally, Bank of America Corporation reissued a “buy” rating and set a $68.00 price target (up from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $71.43.
Citigroup Inc. (C) opened at 75.72 on Friday. The firm’s 50-day moving average price is $69.52 and its 200 day moving average price is $64.65. Citigroup Inc. has a 12-month low of $47.54 and a 12-month high of $75.93. The stock has a market capitalization of $206.30 billion, a P/E ratio of 15.16 and a beta of 1.45.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS 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 company had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Citigroup Inc. will post $5.21 EPS for the current year.
Citigroup announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are 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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