Driehaus Capital Management LLC acquired a new stake in Citigroup Inc. (NYSE:C) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,809 shares of the financial services provider’s stock, valued at approximately $527,000.
A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after purchasing an additional 189,447,104 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Citigroup by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after purchasing an additional 4,391,347 shares in the last quarter. FMR LLC raised its stake in shares of Citigroup by 18.2% in the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after purchasing an additional 16,257,931 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Citigroup by 31.3% in the 1st quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after purchasing an additional 10,294,403 shares in the last quarter. Finally, Harris Associates L P raised its stake in shares of Citigroup by 25.9% in the 1st quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock valued at $2,460,384,000 after purchasing an additional 8,464,257 shares in the last quarter. 75.40% of the stock is owned by institutional investors.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was 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 in the company, valued at approximately $3,889,494.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction that occurred on Thursday, August 10th. The stock was 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 of the company’s stock, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
C has been the topic of several research reports. Credit Suisse Group reiterated an “outperform” rating and set a $76.00 price objective (up previously from $70.00) on shares of Citigroup in a research note on Wednesday, July 26th. BidaskClub cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a research report on Monday, July 3rd. HSBC Holdings plc started coverage on shares of Citigroup in a report on Tuesday, July 11th. They issued a “hold” rating and a $71.00 price objective for the company. Finally, Zacks Investment Research cut shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $68.99.
Citigroup Inc. (C) traded down 0.23% during mid-day trading on Friday, reaching $69.08. 6,658,002 shares of the company traded hands. The stock has a market capitalization of $188.21 billion, a price-to-earnings ratio of 13.83 and a beta of 1.47. Citigroup Inc. has a 12-month low of $45.16 and a 12-month high of $69.86. The company’s 50-day moving average is $67.83 and its 200-day moving average is $63.44.
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, 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 business had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post $5.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a dividend yield of 1.85%. Citigroup’s dividend payout ratio (DPR) is 25.55%.
Citigroup declared that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management 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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