Locust Wood Capital Advisers LLC Purchases Shares of 44,145 Citigroup Inc. (C)
Locust Wood Capital Advisers LLC purchased a new stake in Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 44,145 shares of the financial services provider’s stock, valued at approximately $2,952,000.
Several other institutional investors have also modified their holdings of C. Dubuque Bank & Trust Co. boosted its position in shares of Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares in the last quarter. Patten Group Inc. boosted its position in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares in the last quarter. Arrow Financial Corp boosted its position in shares of Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after buying an additional 85 shares in the last quarter. Advantage Investment Management LLC boosted its position in shares of Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Citigroup during the first quarter valued at $123,000. 75.39% of the stock is owned by institutional investors.
Citigroup Inc. (NYSE C) opened at 67.85 on Monday. The company has a 50-day moving average price of $67.51 and a 200-day moving average price of $62.64. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86. The firm has a market cap of $184.86 billion, a P/E ratio of 13.58 and a beta of 1.48.
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, beating 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 for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post $5.22 EPS for the current fiscal year.
Citigroup announced that its Board of Directors has authorized a stock repurchase 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 repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 dividend on an annualized basis and a yield of 1.89%. Citigroup’s dividend payout ratio is 25.55%.
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C has been the subject of several analyst reports. UBS AG raised shares of Citigroup from a “sell” rating to a “neutral” rating and raised their target price for the company from $58.00 to $64.00 in a research note on Friday, June 9th. Keefe, Bruyette & Woods set a $75.00 target price on shares of Citigroup and gave the company a “buy” rating in a research note on Sunday, August 13th. Wells Fargo & Company initiated coverage on shares of Citigroup in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 target price for the company. BMO Capital Markets reissued a “buy” rating and issued a $64.00 target price on shares of Citigroup in a research note on Thursday, June 1st. Finally, BidaskClub raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $69.08.
In other news, 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 value of $2,702,000.00. Following the sale, the chief executive officer now directly owns 77,570 shares in the company, valued at $5,239,853.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction that occurred 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 in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.
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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