Northpointe Capital LLC Boosts Stake in Citigroup Inc. (C)
Northpointe Capital LLC lifted its position in Citigroup Inc. (NYSE:C) by 4.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 118,426 shares of the financial services provider’s stock after buying an additional 5,197 shares during the period. Northpointe Capital LLC’s holdings in Citigroup were worth $7,920,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dubuque Bank & Trust Co. grew its holdings in shares of 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 acquiring an additional 599 shares during the last quarter. Patten Group Inc. grew its holdings in shares of 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 acquiring an additional 110 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Citigroup in the 2nd quarter worth $123,000. Enterprise Financial Services Corp grew its holdings in shares of 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 acquiring an additional 120 shares during the last quarter. Finally, Advantage Investment Management LLC grew its holdings in shares of 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 acquiring an additional 1,026 shares during the last quarter. 75.38% of the stock is currently owned by institutional investors.
In other news, 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 value of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now owns 77,570 shares of the company’s stock, 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.
A number of brokerages recently issued reports on C. Wells Fargo & Company began coverage on Citigroup in a report on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 target price on the stock. Zacks Investment Research upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. HSBC Holdings plc set a $74.00 target price on Citigroup and gave the stock a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC restated a “hold” rating and issued a $68.00 target price on shares of Citigroup in a report on Friday, July 7th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $67.00 price target (up previously from $61.00) on shares of Citigroup in a report on Tuesday, September 26th. Two equities 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 stock. The company has a consensus rating of “Buy” and an average target price of $71.65.
Shares of Citigroup Inc. (C) opened at 75.64 on Friday. The firm has a 50 day moving average price of $69.77 and a 200-day moving average price of $64.77. The firm has a market cap of $206.09 billion, a PE ratio of 15.14 and a beta of 1.45. Citigroup Inc. has a 12 month low of $47.54 and a 12 month high of $76.02. Citigroup also was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 71,029 call options on the stock. This represents an increase of 192% compared to the typical volume of 24,344 call options.
Citigroup (NYSE:C) last issued its quarterly earnings data 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. The firm had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $1.24 earnings per share. On average, analysts predict that Citigroup Inc. will post $5.21 EPS for the current fiscal year.
Citigroup announced that its board has authorized 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 purchase 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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