First National Bank of Mount Dora Trust Investment Services boosted its position in shares of Citigroup Inc. (NYSE:C) by 85.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 55,007 shares of the financial services provider’s stock after acquiring an additional 25,317 shares during the quarter. Citigroup comprises about 2.0% of First National Bank of Mount Dora Trust Investment Services’ portfolio, making the stock its 25th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Citigroup were worth $4,002,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. increased 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. Lazard Asset Management LLC increased its stake in shares of Citigroup by 109.5% in the 2nd quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock valued at $621,497,000 after purchasing an additional 4,856,866 shares in the last quarter. PointState Capital LP purchased a new stake in Citigroup during the 2nd quarter worth approximately $321,322,000. Pioneer Investment Management Inc. increased its stake in Citigroup by 2,317.8% during the 2nd quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock worth $334,536,000 after buying an additional 4,795,145 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Citigroup by 42.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock worth $990,836,000 after buying an additional 4,413,329 shares in the last quarter. 78.59% of the stock is owned by institutional investors.
Several equities research analysts have commented on C shares. ValuEngine upgraded Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Credit Suisse Group reiterated a “buy” rating and set a $73.00 price objective on shares of Citigroup in a research note on Wednesday, September 13th. Raymond James Financial started coverage on Citigroup in a research note on Tuesday, October 31st. They set a “hold” rating for the company. Morgan Stanley upped their price target on Citigroup from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Finally, Jefferies Group set a $81.00 price target on Citigroup and gave the company a “neutral” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $75.83.
Citigroup (NYSE:C) last released its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The firm had revenue of $18.17 billion for the quarter, compared to analysts’ expectations of $17.87 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. equities analysts anticipate that Citigroup Inc. will post 5.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Friday, November 3rd. Citigroup’s dividend payout ratio is presently 24.66%.
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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.
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