VNBTrust National Association Lowers Position in Citigroup Inc. (C)

VNBTrust National Association lowered its stake in Citigroup Inc. (NYSE:C) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,664 shares of the financial services provider’s stock after selling 60 shares during the period. VNBTrust National Association’s holdings in Citigroup were worth $847,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of C. Advisory Services Network LLC acquired a new stake in Citigroup during the 1st quarter worth $877,000. BlackRock Inc. grew its holdings in Citigroup by 2,718.7% during the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after acquiring an additional 189,447,104 shares during the period. Advisor Partners LLC grew its holdings in Citigroup by 10.6% during the 1st quarter. Advisor Partners LLC now owns 48,936 shares of the financial services provider’s stock worth $2,927,000 after acquiring an additional 4,685 shares during the period. Capital Advisors Inc. OK grew its holdings in Citigroup by 2.1% during the 1st quarter. Capital Advisors Inc. OK now owns 393,431 shares of the financial services provider’s stock worth $23,535,000 after acquiring an additional 8,070 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its holdings in Citigroup by 7.5% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 9,680,474 shares of the financial services provider’s stock worth $579,086,000 after acquiring an additional 672,933 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.

In related news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the transaction, the insider now directly owns 56,394 shares of the company’s stock, valued at $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 dated Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the transaction, the chief executive officer now directly 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 owned by company insiders.

Shares of Citigroup Inc. (NYSE C) traded up 2.11% during midday trading on Tuesday, reaching $69.14. 8,299,302 shares of the company’s stock traded hands. The stock has a market cap of $188.38 billion, a P/E ratio of 13.84 and a beta of 1.47. The stock has a 50 day moving average of $67.68 and a 200-day moving average of $63.26. Citigroup Inc. has a 12 month low of $45.16 and a 12 month high of $69.86.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the firm earned $1.24 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Citigroup Inc. will post $5.22 EPS for the current fiscal year.

Citigroup declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to buyback $15.60 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared 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. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, August 3rd. Citigroup’s dividend payout ratio (DPR) is presently 25.55%.

C has been the subject of a number of analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $76.00 target price (up previously from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. BidaskClub lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a report on Monday, July 3rd. HSBC Holdings plc initiated coverage on shares of Citigroup in a report on Tuesday, July 11th. They set a “hold” rating and a $71.00 target price for the company. Finally, Zacks Investment Research lowered 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 given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $69.11.

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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.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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