Banco Santander S.A. Has $4.43 Million Position in Citigroup Inc. (C)
Banco Santander S.A. increased its stake in shares of Citigroup Inc. (NYSE:C) by 4.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 74,084 shares of the financial services provider’s stock after buying an additional 2,831 shares during the period. Banco Santander S.A.’s holdings in Citigroup were worth $4,432,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in C. A. D. Beadell Investment Counsel Inc. bought a new stake in shares of Citigroup during the first quarter valued at approximately $764,000. Abner Herrman & Brock LLC boosted its stake in shares of Citigroup by 11.2% in the first quarter. Abner Herrman & Brock LLC now owns 209,709 shares of the financial services provider’s stock valued at $12,545,000 after buying an additional 21,166 shares during the last quarter. Hermes Investment Management Ltd. boosted its stake in shares of Citigroup by 3.4% in the first quarter. Hermes Investment Management Ltd. now owns 27,396 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 900 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Citigroup during the first quarter valued at approximately $593,000. Finally, Huntington National Bank boosted its stake in shares of Citigroup by 29.2% in the first quarter. Huntington National Bank now owns 33,802 shares of the financial services provider’s stock valued at $2,022,000 after buying an additional 7,643 shares during the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.
Citigroup Inc. (NYSE C) traded up 0.24% during midday trading on Friday, reaching $67.85. The company had a trading volume of 11,883,138 shares. Citigroup Inc. has a 12-month low of $45.16 and a 12-month high of $69.86. The stock has a market capitalization of $184.86 billion, a PE ratio of 13.58 and a beta of 1.48. The company has a 50-day moving average of $67.51 and a 200-day moving average of $62.64.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 return on equity of 7.32% and a net margin of 18.11%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. On average, analysts predict that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were given a $0.32 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.89%. Citigroup’s dividend payout ratio (DPR) is presently 25.55%.
Citigroup declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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Several brokerages recently commented on C. J P Morgan Chase & Co set a $73.50 target price on Citigroup and gave the company a “buy” rating in a report on Wednesday, August 2nd. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 price target on the stock. in a report on Monday, July 31st. Wells Fargo & Company began coverage on Citigroup in a report on Wednesday, August 9th. They set an “outperform” rating and a $90.00 price target on the stock. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a report on Monday, July 3rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $76.00 price target (up from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $69.08.
In other news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s 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 completion of the sale, the insider now owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly 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. 0.10% of the stock is owned by company insiders.
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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