Citigroup Inc. (C) Position Trimmed by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in Citigroup Inc. (NYSE:C) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,362,576 shares of the financial services provider’s stock after selling 107,506 shares during the period. Citigroup comprises approximately 0.7% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 26th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.05% of Citigroup worth $91,129,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Dubuque Bank & Trust Co. lifted 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 purchasing an additional 599 shares in the last quarter. Patten Group Inc. lifted its stake in Citigroup by 6.6% in the 1st quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 110 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Citigroup in the 2nd quarter worth $123,000. Enterprise Financial Services Corp lifted its stake in Citigroup by 6.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,963 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 120 shares in the last quarter. Finally, Advantage Investment Management LLC lifted 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 purchasing an additional 1,026 shares in the last quarter. 75.38% of the stock is owned by institutional investors.
In related news, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction that occurred 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 in the company, valued at $5,239,853.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the completion of the transaction, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
Several analysts have commented on C shares. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 price target on the stock. in a research note on Monday, June 12th. BidaskClub upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Bank of America Corporation reiterated a “buy” rating and issued a $68.00 price target (up previously from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Buckingham Research reiterated a “buy” rating and issued a $81.00 price target (up previously from $70.00) on shares of Citigroup in a research note on Monday, July 10th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $75.00 price target on shares of Citigroup in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $71.65.
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Shares of Citigroup Inc. (C) opened at 75.64 on Friday. The company has a 50-day moving average of $69.77 and a 200-day moving average of $64.77. Citigroup Inc. has a 52-week low of $47.54 and a 52-week high of $76.02. The stock has a market capitalization of $206.09 billion, a price-to-earnings ratio of 15.14 and a beta of 1.45. Citigroup also was the recipient of some unusual options trading activity on Thursday. Investors acquired 71,029 call options on the company. This represents an increase of approximately 192% compared to the average daily volume of 24,344 call options.
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. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. Equities research analysts anticipate that Citigroup Inc. will post $5.21 EPS for the current year.
Citigroup declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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