Markston International LLC Trims Stake in Citigroup Inc. (C)
Markston International LLC cut its position in Citigroup Inc. (NYSE:C) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,824 shares of the financial services provider’s stock after selling 1,247 shares during the period. Markston International LLC’s holdings in Citigroup were worth $8,549,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in shares of Citigroup by 206.0% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,030 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Citigroup by 1.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,322,619 shares of the financial services provider’s stock valued at $155,336,000 after buying an additional 43,353 shares during the period. Boys Arnold & Co. Inc. grew its stake in shares of Citigroup by 0.7% in the 2nd quarter. Boys Arnold & Co. Inc. now owns 14,532 shares of the financial services provider’s stock valued at $972,000 after buying an additional 100 shares during the period. Canandaigua National Bank & Trust Co. grew its stake in shares of Citigroup by 21.7% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 5,035 shares of the financial services provider’s stock valued at $337,000 after buying an additional 899 shares during the period. Finally, Intrust Bank NA grew its stake in shares of Citigroup by 1.7% in the 2nd quarter. Intrust Bank NA now owns 39,061 shares of the financial services provider’s stock valued at $2,612,000 after buying an additional 638 shares during the period. Institutional investors own 75.39% of the company’s stock.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the 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 transaction, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction that occurred on 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. 0.10% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $75.00 price target on shares of Citigroup in a research note on Friday, July 14th. Buckingham Research reiterated a “buy” rating and set a $81.00 price target (up previously from $70.00) on shares of Citigroup in a research note on Monday, July 10th. Vetr downgraded 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. BidaskClub upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Nomura lifted their price target on Citigroup from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $74.77.
Shares of Citigroup Inc. (NYSE:C) opened at 73.12 on Thursday. The company has a market cap of $193.33 billion, a PE ratio of 14.11 and a beta of 1.45. The company has a 50 day moving average of $71.19 and a 200-day moving average of $65.65. Citigroup Inc. has a 12-month low of $47.70 and a 12-month high of $76.14.
Citigroup (NYSE:C) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The business had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. During the same period last year, the firm earned $1.24 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post $5.29 earnings per share for the current year.
Citigroup declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 annualized dividend and a yield of 1.75%. Citigroup’s payout ratio is presently 24.66%.
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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