Halbert Hargrove Russell LLC grew its stake in shares of Citigroup Inc. (NYSE:C) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,736 shares of the financial services provider’s stock after purchasing an additional 74 shares during the quarter. Halbert Hargrove Russell LLC’s holdings in Citigroup were worth $317,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in C. BlackRock Inc. boosted its stake in shares of Citigroup by 2,718.7% during the first 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 during the period. FMR LLC boosted its stake in shares of Citigroup by 18.2% during the first 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 during the period. Bank of New York Mellon Corp boosted its stake in shares of Citigroup by 31.3% during the first 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 during the period. Harris Associates L P boosted its stake in shares of Citigroup by 25.9% during the first 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 during the period. Finally, Pioneer Investment Management Inc. boosted its stake in shares of Citigroup by 2,317.8% during the second quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock valued at $334,536,000 after purchasing an additional 4,795,145 shares during the period. 75.37% of the stock is owned by hedge funds and other institutional investors.
Citigroup Inc. (NYSE:C) opened at 74.94 on Thursday. The stock’s 50 day moving average price is $70.52 and its 200 day moving average price is $65.19. The company has a market cap of $204.18 billion, a P/E ratio of 15.00 and a beta of 1.45. Citigroup Inc. has a 52-week low of $47.54 and a 52-week high of $76.02.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post $5.22 earnings per share for the current year.
Citigroup announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Citigroup news, 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
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A number of research firms have recently weighed in on C. Jefferies Group LLC reissued a “hold” rating and set a $81.00 price objective on shares of Citigroup in a research note on Thursday. Bank of America Corporation reissued a “neutral” rating on shares of Citigroup in a research note on Wednesday. BidaskClub raised Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Stifel Nicolaus reissued a “hold” rating on shares of Citigroup in a research note on Monday. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $83.00 price target (up previously from $73.00) on shares of Citigroup in a research note on Monday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Citigroup currently has an average rating of “Buy” and a consensus target price of $74.17.
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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